Investing is critical for long-term wealth creation. Take a page from the book of successful investors. The majority of people have no idea where to begin when it comes to investing. Fortunately, we can learn from outstanding investors from the past and today. Some of theseMust Know Investment Quotes are from modern experts like Warren Buffett, while others date back to Benjamin Franklin.
Here are 10 must know investment quotes by the billionaires;
An investment in knowledge pays the best interest.” — Benjamin Franklin
Nothing pays off more than self-education when it comes to investing. Before making any investing decisions, conduct the essential research and analysis.
“Bottoms in the investment world don’t end with four-year lows; they end with 10- or 15-year lows.” — Jim Rogers
Although 10- to 15-year lows are rare, they do occur. During these times, don’t be afraid to go against the grain and invest; you could earn a fortune or lose your shirt by doing so. Remember the first quote in this post and invest in a field you’ve thoroughly investigated. Then expect to see your investment plummet before it recovers and begins to pay off.
“Given a 10% chance of a 100 times payoff, you should take that bet every time.” — Jeff Bezos
Many of the best and most successful investment ideas are dismissed by most people simply because they are unlikely to succeed. These investors seldom think about how much money they could make if unusual events occur. Jeff Bezos won those bets and became the world’s richest man.
“The stock market is filled with individuals who know the price of everything, but the value of nothing.” — Phillip Fisher
That is just another example of how investing without proper information and research will ultimately result in poor investment selections. Listening to popular opinion isn’t all that research entails. Fisher is regarded as the ultimate long-term investor, owing to his purchase of Motorola shares in the 1950s. Until his death in 2004, he clung to it. Be prepared to go beyond the price to determine what a stock is truly worth if you’re buying for the long run. Finally, a company’s organizational structure and operating principles are a greater predictor of its future performance.
“How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” — Robert G. Allen
Investing in a savings account is a safe decision, but due to the incredibly low interest rates, your returns will be limited. But don’t fully disregard one. A savings account, rather than a market investment, is a safe way to save an emergency reserve.
“Wide diversification is only required when investors do not understand what they are doing.” — Warren Buffett.
Diversification is important in the beginning. Over-diversifying your portfolio, on the other hand, has its drawbacks. You can alter your portfolio and make bigger bets once you’ve gotten your feet wet and gained confidence in your investments.
“I’m only rich because I know when I’m wrong…I basically have survived by recognizing my mistakes.” – George Soros
Making errors is an inevitable aspect of life, and I believe it is a fundamental component of personal and professional success. Failure might occur as a result of your own faults or as a result of the actions of others. Regardless of why things went wrong, it’s critical that you own the problem and accept responsibility for your part in it.
“I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.” Warren Buffet
Buffett is largely regarded as the greatest successful investor of the twentieth century, and the Berkshire Hathaway CEO is famous for saying things like this. It may sound paradoxical to let fear dictate your financial decisions, but what he’s really saying is to pay attention to the market and be wary of what the crowd is doing.
“If you have trouble imagining a 20% loss in the stock market, you shouldn’t be in stocks.”- John Bogle
Bogle, the founder and former CEO of The Vanguard Group, is a firm believer in employing common sense when it comes to investing. That involves determining if stock or fund trading is appropriate for you in the first place. You may not be cut out to be a serious investor if you can’t bear the prospect of losing money in the market.
“If investing is entertaining, if you’re having fun, you’re probably not making any money. Good investing is boring.” – George Soros
Soros has been chastised for his political beliefs in the past, but when it comes to investment, his advice is always spot on. Most Americans’ perceptions of investment are shaped by films and television shows. The truth is considerably different from smug investors whooping and banging their fists at their computer screens every day. There’s no room for fun and games if you want to progress beyond being a hobby investor.