A Quote by Warren Buffett
We've long felt that the only value of stock forecasters is to make fortune tellers look good. Even now, Charlie and I continue to believe that short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children.
Related Quotes
We have long felt that the only value of stock forecasters is to make fortune-tellers look good.
You should expect little or nothing from Wall Street stock pickers who hope to be more accurate than the market in predicting the future of prices. And you should not expect much from pundits making long-term forecasts.
I make no effort to predict the course of general business or the stock market. Period. However, currently there are practices snowballing in the security markets and business world which, while devoid of short term predictive value, bother me as to possible long term consequences.
The chief function of stock-market forecasters is to make astrologers look respectable.
Value investing doesn't always work. The market doesn't always agree with you. Over time, value is roughly the way the market prices stocks, but over the short term, which sometimes can be as long as two or three years, there are periods when it doesn't work. And that is a very good thing. The fact that our value approach doesn't work over periods of time is precisely the reason why it continues to work over the long term.
I used to think that good short-sellers could be trained like long-focused value investors because it should be the same skill set; you’re tearing into the numbers, you’re valuing the businesses, you’re assigning a consolidated value, and hopefully you’re seeing something the market doesn’t see.But now I’ve learned that there’s a big difference between a long-focused value investor and a good short-seller. That difference is psychological and I think it falls into the realm of behavioral finance.
I can't figure the stock market out. I think it's wacky. I have done well with a long-term strategy and will continue being a long-term investor.
The term ‘free market’ is really a euphemism. What the far right actually means by this term is ‘lawless market.’ In a lawless market, entrepreneurs can get away with privatizing the benefits of the market (profits) while socializing its costs (like pollution).
The underlying strategy of the Fed is to tell people, "Do you want your money to lose value in the bank, or do you want to put it in the stock market?" They're trying to push money into the stock market, into hedge funds, to temporarily bid up prices. Then, all of a sudden, the Fed can raise interest rates, let the stock market prices collapse and the people will lose even more in the stock market than they would have by the negative interest rates in the bank. So it's a pro-Wall Street financial engineering gimmick.
Long hair, short skirts, the girls like this image and try to make money with it. What they wear, how they behave, it's all part of the business. Television and advertising have changed a great many things. In the old days, we used to make our money on the course. Now your market value is decided elsewhere.
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.
Everyone things children are sweet as Necco Wafers, but I've lived long enough to know the truth: kids are rotten. The only difference between grown-ups and kids is that grown-ups go to jail for murder. Kids get away with it.
With no banal reassuring grown-ups present, with grown-up intervention taken away, there is no limit to the terror strange children feel of each other, a terror life obscures but never ceases to justify. There is no end to the violations committed by children on children, quietly talking alone.
I was at CNBC for 20 years. I felt really great about covering the stock market, being on the floor, watching the daily knee-jerk reactions to the stock market..but the last three years, being at Fox, I've grown. I've learned more.
A market downturn, doesn't bother us. For us and our long term investors, it is an opportunity to increase our ownership of great companies with great management at good prices. Only for short term investors and market timers is a correction not an opportunity.
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.
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