Mario Gabelli Quotes

Diversification has been, and balance, like Wellington, has been so drummed into me, it's part of my personality.

The last thing you want to do, unless it's a very unusual situation, is to invest money.

Well, there's always risk in long-term investment.

There's a tendency to look at investments in isolation. Investors focus on the risk of individual securities.

I'm not a money manager, but I can tell you what the conventional wisdom is. The younger you are, the more risk you can take on.

It is important for investors to understand what they do and don't know. Learn to recognize that you cannot possibly know what is going to happen in the future, and any investment plan that is dependent on accurately forecasting where markets will be next year is doomed to failure.

Investing is a business where you can look very silly for a long period of time before you are proven right.

I would never be 100 percent in stocks or 100 percent in bonds or cash.

If you are not making any mistakes, you are being excessively risk-averse. Investing involves risk, and that means you will occasionally be wrong. And although it is okay to be wrong, it is not okay to stay wrong.

My view is that one should diversify broadly across different fund investments. However, it's tough for investors to try to pick the appropriate risk level that they should manage their funds at. Having a personal adviser would be helpful.

If the investor doesn't have enough time and skill to investigate individual stocks or enough money to diversify a portfolio, the right thing to do is to invest in exchange-traded funds that give you exposure to asset classes. It does make sense for the individual investor to think in terms of holding individual asset classes.

The best argument for mutual funds is that they offer safety and diversification. But they don't necessarily offer safety and diversification.

Investing should be dull. It shouldn't be exciting.

I haven't changed any of my investments since I've been in the Senate and haven't purchased any stocks since I've been in the Senate.

Never put your savings in risky investments. Only disposable income should find its way there.

There is almost no limit to the ability of investors to ignore the lessons of the past.

I think it is crucial to diversify one's portfolio.

Well, the most important thing in investing is to know what you're investing in, and if you're confident in the outcome, it's important to stay true to your position.

You could lose hundreds or thousands one day on paper and gain it all back the next, and it has literally no effect on your immediate future, provided the money you have in the market is money you're investing for the long haul (meaning at least three to five years).

We don't manage money for anyone else. We bear responsibility only for our own risks.

Investors have to ask themselves two questions. How much can we grow our investments? And, can we afford our mistakes?

The thing to do with mutual funds is to buy a couple of decent ones, set up an investment plan and then never, ever think about them again, except maybe once a quarter or so when you take a peek at your statements to make sure that you have not accidentally been buying the Fidelity Peace-in-the-Middle-East fund.

What I'm trying to say is that for the average investor, what I would encourage them to do is to understand that there's inflation and growth. It can go higher and lower and to have four different portfolios essentially that make up your entire portfolio that gets you balanced.

I have a million dollars in the stock market, because if I lose a million dollars, I don't personally care.

Owning a variety of asset classes means that some part of your portfolio will be doing well when the cyclical turmoil arises. A broadly diversified portfolio includes large capitalization stocks, small cap, emerging markets, fixed income, real estate and commodities.