A Quote by Seth Klarman

As Buffett has often observed, value investing is not a concept that can be learned and gradually applied over time. It is either absorbed and adopted at once, or it is never truly learned.

Seth Klarman

Quote Topics

Adopted Applied Buffett Concept Either Gradually Investing Learned Never Observed Often Once Over Time Truly Value

Quote Author

Seth Klarman
American - Author
Born: May 21, 1957

Warren Buffett once wrote that value investing is like an inoculation--it either takes or it doesn't--and when you explain to somebody what it is and how it works and why it works and show them the returns, either they get it or they don't.

Seth Klarman

To value investors the concept of indexing is at best silly and at worst quite hazardous. Warren Buffett has observed that "in any sort of a contest - financial, mental or physical - it's an enormous advantage to have opponents who have been taught that it's useless to even try." I believe that over time value investors will outperform the market and that choosing to match it is both lazy and shortsighted.

Seth Klarman

With regard to the learned professions, little need be observed; they truly form no distinct interest in society . . . [discussing the landed, merchant, and learned classes in legislative assembly]. Will not the man of the learned profession, who will feel a neutrality to the rivalships between the different branches of industry, be likely to prove an impartial arbiter between them, ready to promote either, so far as it shall appear to him conducive to the general interests of society?

Alexander Hamilton

When I was 12 or 13, my dad taught me a couple of different chords, and once I learned chords, I never learned to read music, but I learned tablature, like a lot of kids do, and I learned songs that had the chords I knew. It took me a long time to understand the upstroke of picking and strumming, but once I did, it all fell into place.

Thomas Rhett

A self-made man, if he is made at all, has already won the battle of life. . . . he has learned to resist. He has learned the value of money, and how to refuse to spend it. He has learned the value of time, and how the conversion of it into useful things will make of his life something worthwhile. He has learned to say no, to say no at the right time and then to stand by it. Without resistance, and the self-denial which it often imposes, there is no real happiness. In the quest for happiness man must learn that temptation resisted strengthens the mind and the soul.

Alvin R. Dyer

I learned about the strength you can get from a close family life. I learned to keep going, even in bad times. I learned not to despair, even when my world was falling apart. I learned that there are no free lunches. And I learned the value of hard work.

Lee Iacocca

I have learned things from the game. Much of my knowledge of locations in Britain and Europe comes not from school, but from away games or the sports pages, and hooliganism has given me both a taste for sociology and a degree of fieldwork experience. I have learned the value of investing time and emotion in things I cannot control, and of belonging to a community whose aspirations I share completely and uncritically.

Nick Hornby

It is the most powerful submission in the sport. It is a beautiful thing. You're holding them into you, their back is on you, and you are basically choking them gradually like a boa constrictor and once you've got them, the pressure goes on and they have to submit or they are going to stop breathing. It happened to me early in my career, and I panicked, and gave in, I tapped out too early. I learned a lot from that. I learned from it, learned how to do the move better, learned how to avoid it being done to me.

Conor McGregor

Once upon a time, I sat in my mother's lap as she turned the pages of Golden Books, and I gradually learned to read.

Michael Dirda

Price is what you pay, but value, as Warren Buffett has observed, is what you get.

Kelly Evans

Over the time that I followed Warren Buffett, one CFO told me, it's very important to pay attention not only to what Warren Buffett says and what he actually does - often there are subtle differences between the two.

Guy Spier

When I was a small boy I often went to the woods to lie on the grass in the shade. Somehow I had come to believe the earth could give me wisdom, but it did not. Yet I learned a little about animals and learned it is not always brave to make a stand. It is often foolish. There is a time for courage and a time for flight.

Louis L'Amour

The whole concept of dividing it up into 'value' and 'growth' strikes me as twaddle. It's convenient for a bunch of pension fund consultants to get fees prattling about and a way for one advisor to distinguish himself from another. But, to me, all intelligent investing is value investing.

Charlie Munger

Warren Buffett has said many times that people either get value investing in five minutes or they won't get it in five years. So, there is something in the human brain, that for some of us, makes all the difference in the world right away and the patience it requires is part of the wiring process.

Mohnish Pabrai

I have learned that trying again is important and decisivness is good. I have learned that silence hurts. I have learned about starting over and releasing pride.