A Quote by Gary A. Klein

You shouldn't trust the judgments of stock brokers picking individual stocks.

Gary A. Klein

Quote Topics

Brokers Individual Judgments Picking Stock Stock Broker Stocks Trust

Quote Author

Gary A. Klein
Psychologist
Born: February 5, 1944

I have never for a minute felt in was my stock picking abilities. I feel that my stock picking abilities aided- I was able to pick out which are the good stocks in the good market, but I have been blessed with a great market.

Jim Cramer

Here is a dirty little secret: Stock-picking is wildly overrated. Sure, it makes for great cocktail party chatter, and what is more fun than delving into a company's new products? But the truth is that individual stocks are riskier than broad indices.

Barry Ritholtz

I think there are a lot of people out there that are speculating in the stock market. They have all kinds of tech stocks or social media stocks. If you want to gamble in the stock market, I would much rather gamble on a mining stock than a social media stock.

Peter Schiff

I don't invest in the stock market. I did it a long, long time ago when I was really young, and I got involved in all the investigations and all the prosecutions, and I felt it was better if I didn't make individual investments. So I'm invested in funds, but not in individual - not in individual stocks.

Rudy Giuliani

Will customers keep supporting the enormous overhead required to sustain ineffectual, unproductive stock picking across an array of thousands of individual funds devoted to every investing 'style' and economic sector or regional subgroup that some marketing idiot can dream up? Not likely. A brutal shakeout is coming and one of its revelations will be that stock picking is a grossly overrated piece of the puzzle, that cost control is what distinguishes a competitive firm from an uncompetitive one.

Holman W. Jenkins, Jr.

Mutual funds have historically offered safety and diversification. And they spare you the responsibility of picking individual stocks.

Ron Chernow

Mutual funds were created to make investing easy, so consumers wouldn't have to be burdened with picking individual stocks.

Scott Cook

The classification of facts and the formation of absolute judgments upon the basis of this classification-judgments independent of the idiosyncrasies of the individual mind-essentially sum up the aim and method of modern science. The scientific man has above all things to strive at self-elimination in his judgments, to provide an argument which is as true for each individual mind as for his own.

Karl Pearson

Index funds eliminate the risks of individual stocks, market sectors, and manager selection. Only stock market risk remains.

John C. Bogle

One of the ironies of the stock market is the emphasis on activity. Brokers, using terms such as 'marketability' and 'liquidity,' sing the praises of companies with high share turnover... but investors should understand that what is good for the croupier is not good for the customer. A hyperactive stock market is the pick pocket of enterprise.

Warren Buffett

After a lifetime of picking stocks, I have to admit that Bogle's arguments in favor of the index fund have me thinking of joining him rather than trying to beat him. Bogle's wisdom and common sense are indispensable... for anyone trying to figure out how to invest in this crazy stock market.

Jim Cramer

A broker who discovers an undervalued stock does not advertise it until he has bought a large enough quantity without letting the price go up. When the brokers' connection with a stock becomes public knowledge, it is usually a sure sign of manipulation and that the broker is seeking to drive up the price.

Sucheta Dalal

The aggregate capital appears as the capital stock of all individual capitalists combined. This joint stock company has in common with many other stock companies that everyone knows what he puts in, but not what he will get out of it.

Karl Marx

If you expect to be a net saver during the next 5 years, should you hope for a higher or lower stock market during that period? Many investors get this one wrong. Even though they are going to be net buyers of stocks for many years to come, they are elated when stock prices rise and depressed when they fall. This reaction makes no sense. Only those who will be sellers of equities in the near future should be happy at seeing stocks rise. Prospective purchasers should much prefer sinking prices.

Warren Buffett

Stocks always go down much faster than they go up. That's why it's called a crash. People who put their money into the stocks will find, all of a sudden, that stock prices are no longer being supported by the debt leveraging that's been holding them up.