A Quote by Randal Cremer
At the first rumors of war, timid investors in various government stock, being panic-stricken, sell out, to their loss and the gamblers' gain.
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Typically in a panic, corporate bonds sell off as investors fear weaker growth, tighter financial conditions, or need liquidity.
Successful investors like stocks better when they’re going down. When you go to a department store or a supermarket, you like to buy merchandise on sale, but it doesn’t work that way in the stock market. In the stock market, people panic when stocks are going down, so they like them less when they should like them more. When prices go down, you shouldn’t panic, but it’s hard to control your emotions when you’re overextended, when you see your net worth drop in half and you worry that you won’t have enough money to pay for your kids’ college.
In contrast to the speculators preoccupation with rapid gain, value investors demonstrate their risk aversion by striving to avoid loss.
A stock market decline is as routine as a January blizzard in Colorado. If you're prepared, it can't hurt you. A decline is a great opportunity to pick up the bargains left behind by investors who are fleeing the storm in panic.
Most people sell stock to pay taxes, but I didn't want to sell any stock.
Nothing in finance is more fatuous and harmful, in our opinion, than the firmly established attitude of common stock investors regarding questions of corporate management. That attitude is summed up in the phrase: "If you don't like the management, sell your stock." ... The public owners seem to have abdicated all claim to control over the paid superintendents of their property.
In the financial markets, however, the connection between a marketable security and the underlying business is not as clear-cut. For investors in a marketable security the gain or loss associated with the various outcomes is not totally inherent in the underlying business; it also depends on the price paid, which is established by the marketplace. The view that risk is dependent on both the nature of investments and on their market price is very different from that described by beta.
What obsesses a writer starting out on a lifetime's work is the panic-stricken search for a voice of his own.
Our world was created with a sense of order. For every loss, there is a gain. Sometimes we are so blinded by the loss that we don't see the gain, don't recognize the gift.
As there is no worldly gain without some loss, so there is no worldly loss without some gain.... Set the allowance against the loss, and thou shalt find no loss great.
Calculating people are contemptable. The reason for this is that calculation deals with loss and gain, and the loss and gain mind never stops. Death is considered loss and life is considered gain. Thus, death is something that such a person does not care for, and he is contemptable. Furthermore, scholars and their like are men who with wit and speech hide their own true cowardice and greed. People often misjudge this.
I think investors ought to focus on making sure that the stock is within their circle of competence, that it's worth a lot more than it's valued at - and once you have those two things, a stop-loss makes no sense.
Like the panic stricken populace of 'The War of the Worlds' and countless other 1950s invasion movies, the victims are there to provide the human ground over which monster and expert, threat and defender, disordering and ordering impulses can battle it out. Second-class citizens of the genre, they are narratively indispensable because physically entirely disposable. We are only really involved with them in the momentary tension of their capture or demise.
Warren Buffett likes to say that the first rule of investing is "Don't lose money," and the second rule is, "Never forget the first rule." I too believe that avoiding loss should be the primary goal of every investor. This does not mean that investors should never incur the risk of any loss at all. Rather "don't lose money" means that over several years an investment portfolio should not be exposed to appreciable loss of principal.
To finance deficits, the government must sell bonds to investors, competing for capital that could otherwise be used to invest in stocks or corporate bonds. Government borrowings raise long-term interest rates, stifling economic growth.
It's got to be the best intellectual exercise out there. You're seeing through new situations every ten minutes. In the stock market you don't base your decisions on what the market is doing, but on what you think is rational. Bridge is about weighing gain/loss ratios. You're doing calculations all the time.
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