Daniel Kahneman Quotes

Owning equities is an essential part of anyone's portfolio. You just can't ignore it over time. It's going to add the real pop to anyone's overall performance.

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).

In the world of money and investing, you must learn to control your emotions.

When it comes to investing, you are your own worst enemy.

I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.

We don't really look at the stock, you know? Because for us, it's about the long term. And so we're very much focused on long-term shareholder value but not the short-term kind of stuff.

It's human nature: for most investors, the pain of stocks going down is more tangible than the joy of when they go up. The common impulse is to do something - anything - to minimise the pain.

The problem with most people who play the market is that they are not flexible.

Long-term investing has gotten so popular, it's easier to admit you're a crack addict than to admit you're a short-term investor.

We're getting hurt, but I'm a long-term investor.

I have yet to take capital losses on any company. Then again, it's still early.

The starting point of my career in money management in 1973-74 was the time of the only true bear market any living non-Japanese investor has seen in major markets. Equities, real estate, you name it, everyone got run over.

If your investing approach requires that you become Nostradamus to succeed, then you are destined to fail.

Every portfolio benefits from bonds; they provide a cushion when the stock market hits a rough patch. But avoiding stocks completely could mean your investment won't grow any faster than the rate of inflation.

But my system for over 30 years has been this: When stocks are attractive, you buy them. Sure, they can go lower. I've bought stocks at $12 that went to $2, but then they later went to $30.

It's difficult to make your clients understand that there are certain days that the market will go up or down 2%, and it's basically driven by algorithms talking to algorithms. There's no real rhyme or reason for that. So it's difficult. We just try to preach long-term investing and staying the course.

All of us would be better investors if we just made fewer decisions.

The real key to making money in stocks is not to get scared out of them.

If you're saving for the long run, it's actually a good thing when the market is down because the more shares you have, the more you can potentially make when markets rise. And over time - decades, not months - the markets rise more than they fall.

One thing on psychology, which we've always known, is that every investor says they're long-term - and they are until the market takes a hit.

In a rising market, enough of your bad ideas will pay off so that you'll never learn that you should have fewer ideas.

Whenever you hear a discussion about the short-term swings in any given stock's price, your immediate thought should be whether it matters to why you are investing.

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

I could never gamble on stocks and shares because I saw my father get hurt that way - he lost quite a lot of money when the stock market collapsed in 2001.

You have a class of investors and you have a class of speculators. The speculators historically haven't been big enough to cause the investors to doubt the long-term vision of stock.