A Quote by Barry Ritholtz
Whenever you hear a discussion about the short-term swings in any given stock's price, your immediate thought should be whether it matters to why you are investing.
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You should be unconcerned about short-term price action when you own the securities directly, just as you were unconcerned when you owned them indirectly through BPL. I think about them as businesses, not "stocks", and if the business does all right over the long term, so will the stock.
I believe that only short-term price swings can be predicted with any precision. The accuracy of a prediction drops off dramatically, the more distant the forecast time. I'm a strong believer in chaos theory.
[W]e think the very term 'value investing' is redundant. What is 'investing' if it is not the act of seeking value at least sufficient to justify the amount paid? Consciously paying more for a stock than its calculated value -- in the hope that it can soon be sold for a still-higher price -- should be labeled speculation (which is neither illegal, immoral nor -- in our view -- financially fattening).
Many things in your life matter, but only one thing matters absolutely.It matters whether you succeed or fail in the eyes of the world. It matters whether you are healthy or not healthy, whether you are educated or not educated. It matter whether you are rich or poor - it certainly makes a difference in your life. Yes, all these things matter, relatively speaking, but they don't matter absolutely.There is something that matters more than any of those things and that is finding the essence of who you are beyond that short-lived entity, that short-lived personalized sense of self.
If you want to make short-term profits from the stock price, then I am a very bad president. But I don't think I'm so bad for maximizing the long-term value of Nintendo.
We talk about long-term patient investing, and that idea that slow and steady does win the race, that time can be your best friend when it comes to investing. That's why we have a turtle as a logo at Ariel.
The difference between the price we pay for a stock and its liquidation value gives us a margin of safety. This kind of investing is one of the most effective ways of achieving good long term results.
We hear in these days of scientific enlightenment a great deal of discussion about the efficacy of Prayer. Many reasons are given why we should not pray. Others give reasons why we should pray. Very little is said of the reason we do pray. The reason is simple: We pray because we cannot help praying.
In the stock market (as in much of life), the beginning of wisdom is admitting your ignorance. One of the many things you cannot know about stocks is exactly when they will up or go down. Over the long term, stocks generally rise at a nice pace. History shows they double in value every seven years or so. But in the short term, stocks are just plain wild. Over periods of days, weeks and months, no one has any idea what they will do. Still, nearly all investors think they are smart enough to divine such short-term movements. This hubris frequently gets them into trouble.
We don't really look at the stock, you know? Because for us, it's about the long term. And so we're very much focused on long-term shareholder value but not the short-term kind of stuff.
Your immediate environment is comprised of coffee shops, supermarkets, websites, apps and all kinds of things - none of which have an interest in your long-term or short-term financial well-being.
I think what working in a short film online is that the response from the audience is immediate whether your short film or web-series works or not, it is immediate. You can see comments and you can also see how many people have viewed it.
When people exercise, we talk about endorphins, but endorphins are just short-term. The reason why exercise is valuable is it trains your brain to believe, 'My behavior matters,' which is optimism.
Basically, what I do is place a stop, generally 10 to 20 percent below the current price, whenever I buy a stock. The exact level depends on my own analysis of a stock's trading pattern. If a stock violates this stop, I'm out.
What does purpose mean? It means the deepest desire for our short lives to mean something. . . . To speak a language of purpose is to return to first principles and to be able to answer, in plain English, the plain questions of Why? Why should we chip in to help someone else? Why should we defer gratification? Why should we care about the long term? Why should we trust anyone who seems to be limiting our ability to do what we want?
We are seeing a lot of cases where the startups are writing the term sheet, dictating the terms, selling common stock instead of preferred stock, where they don't give the investor veto rights or board seat or privileges, and they are really asking the investor -- why should I take your money when there is other money available.
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