A Quote by Whitney Tilson
If you are able to look beyond near term trouble, you have an advantage over many professional investors
Related Quotes
Too many investors overvalue companies in the near term while undervaluing them in the long term.
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.
My suspicion is that we're near a near-term low. The reality is the majority of the selling short-term is over with - the market doesn't want to go down.
The company has been clear from the start that we try to serve customers long-term, and long-term investors are going to be more excited about Amazon than short-term investors.
Short-term performance envy causes many of the shortcomings that lock most investors into a perpetual cycle of underachievement. Watch your competitors not out of jealousy but out of respect and focus your efforts not on replicating others' portfolios but on looking for opportunities where they are not. The only way for investors to significantly outperform is to periodically stand far apart from the crowd, something few are willing, or able, to do.
Many investors make the mistake of buying high and selling low while the exact opposite is the right strategy to outperform over the long term.
Investor confidence in Adani is fairly high, and most of our investors are long-term investors.
The competitive advantage professional journalism enjoys over the free is just that: professional journalists, whose paid positions give them the time and resources they need to commit more fully to the task. If we can't do better, so be it.
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.
As I've become a professional, I just feel more pressure to produce, to score goals and get assists. I know I'm a good player, but it gives evidence of how good you are if you're able to look at how many passes you've made in a game or how many chances you create. It's in the books. It's become more about stats as I've become a professional.
Do we all become garrulous and confidential as we approach the gates of old age? Is it that we instinctively feel, and cannot help asserting, our one advantage over the younger generation, which has so many over us? - the one advantage of time!
I still believe that for good business analysts a concentrated portfolio is a good strategy combined with a long term horizon. Once again, the secret to success in following the formula strategy is patience, a quality in short supply for both professionals and individual investors alike. I think investors should have a large portion of their assets in equities over time.
The companies I have traditionally seen do best over the long term had lead investors for their seed rounds
Learn to invest in investments where you can achieve an honest, legal advantage over other investors. When it comes to investing, why play on a level field?
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.
I do lament how many investors focus on all the short-term sugar buzz of some marginal improvement in something - nothing history books are ever going to be written about. In many cases, these are quick and easy ways to make money.
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