A Quote by Charlie Munger
It would be nice if this [finding really cheap stocks] happened all the time. Unfortunately, it doesn't.
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In an ideal world, the intelligent investor would hold stocks only when they are cheap and sell them when they become overpriced, then duck into the bunker of bonds and cash until stocks again become cheap enough to buy.
Both cheap value stocks and more glamorous growth stocks can work well in a portfolio - if done right.
I've only ever really been in shows of friends, so I don't know exactly what happened. I think I'm incredibly cheap to hire. That can buy some traction. I'm as cheap as it's possible for an actor to be legally.
Nirvana, to a value investor, is paying a cheap price for a company that is growing in value every year at a nice rate - this largely explains why today we own stocks like Berkshire Hathaway, McDonald's, Wal-Mart, Microsoft, Costco and Anheuser-Busch.
'Emeril' came on the air right when a new president of NBC was taking over, and there was just a big shift going on. And then 9/11 happened, and that really pretty much killed it, because the show was already having a hard time finding an audience. I don't regret it. I had a really good time.
There were two recording studios in Bellingham. One was really expensive, a "nice studio." We were at the point where we were young and irreverent. We would scoff at the idea of a nice studio. "Why would you want to go to a nice studio? Oh wow, they have really expensive gear. Ooh, that's really fancy. Well we've got an eight-track. We've got it going on here." Now that we have the resources, we're like, "Oh wow, a nice studio is pretty nice! They do have nice outboards here. It's actually a pretty good place." It's funny how much changes so quickly.
The word passive does a disservice to investors considering their options. Indexing provides an effective means of owning the market and allows investors to participate in the returns of a basket of stocks. The basket of stocks changes over time as stocks are added or removed based on its rules.
If there are not too many value stocks that I can find, the market isn't all that cheap.
Everybody would like to be good, that's the silly thing, everybody always likes it when they're having a nice time or when they're happy or when it's sunny, they all dig it; but then they go and forget about it, they never really try to make it nice. They think that it just comes along and it's nice if you're lucky, or if you're unlucky it's bad for you.
I believe that there are human stocks with whom it is physically unwise to intermarry, but to think that these stocks are all colored or that there are no such white stocks is unscientific and false.
I spent a long time experimenting, saying, 'Here's a record that's free, or $5 if you want a nice version or $250 if you'd like a really nice coffee-table thing.' Everything felt like the right thing to do at the time and then six months later would feel tired. And I would feel tired. So that's one reason for returning to a major label.
I had a few stocks, but stocks took a dive. I never sell my stocks.
Nowadays with the internet, it's an equal opportunity brutal playing field. I mean, everyone is brutal to everybody half the time. People can be unbelievably brutal on the internet, about everything. But they can also be really, really nice. The problem is that human beings like to focus on the negative sometimes, unfortunately.
You might go to a cheap bakery that uses really bad fats and sugars and stuff like that. You go to a nice bakery and you can enjoy a nice sweet that's made well and it doesn't make you put on any weight if you eat in moderation and if you do a little bit of exercise.
Most people try to get rich by being cheap and the price for that is that you live cheap and there is so much money out there; why would you want to live cheap?
When it comes to selling stocks, it is plain that nobody can sell unless somebody wants those stocks.If you operate on a large scale you will have to bear that in mind all the time.
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