@ Obvious prospects for physical growth in a business rarely translate into obvious profits for investors
@ An Investor should be calm, patient, rational
@ We don’t have to be smarter than the rest; we have to be more disciplined than the rest.
@ You should master Human Systems if you want to be a good investor. In the end equities are companies and companies are human systems.
@ It’s Better to be roughly right than precisely wrong – K
@ Should you find yourself in a chronically-leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks. – Warren Buffett
@ As the price of an asset rises compared to it’s value, the risk also increases regardless of the quality of the asset – Howard Marks
@ If your business has high margins ( operating or gross ) it’s signals opportunity for others and attracts competition – Jeff Bezos
@ Don’t buy any stock when the market is open – Mohnish Pabrai
@ Commodity stock prices are like sinusoidal waves, wait for the low points in the commodity prices before you buy ( oil slump in 2014 )