Charlie Munger Quotes

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.

Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years.

If there's a recession, I'd buy stocks. That's when you make money: when markets are spooked.

The way to make money is to buy when blood is running in the streets.

When the market goes to hell, it's more of an opportunity than a problem.

Since we try and take a fairly buy-and-hold approach to our newsletter portfolios and don't sell at every whipsaw, we want to have a mix of stocks that will perform at both ends of the oscillation.

I've found that when the market's going down and you buy funds wisely, at some point in the future you will be happy. You won't get there by reading 'Now is the time to buy.'

I really did believe that the most successful investments were the ones that you could own for the long run.

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. You just don't know when you can find the bottom.

I've found that when the market's going down and you buy funds wisely, at some point in the future you will be happy.

We continue to advise that investors remain committed to a patient, long-term outlook and that the best way to do well in stocks is to use a disciplined, time-tested strategy that has the benefit of empirically tested results over a variety of market environments.

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.

I'm a big believer in investing for the long term, and the decisions you make shouldn't be made if the economy is good or bad at a specific time.

Just because a stock is down doesn't mean it's a great buy.

What about stocks? You got to buy them. What if they break? You have to buy the dips.

The market is often stupid, but you can't focus on that. Focus on the underlying value of dividends and earnings.

Invest in good, solid companies in good sectors.

I've usually used the phrase 'stay the course' as one of the great rules of investment success.

Too often, the public can fall into the trap of investing when stock prices are rising, not dropping.

The Stock Market is designed to transfer money from the Active to the Patient.

A price decline is of no real importance to the bona fide investor unless it is either very substantial say, more than a third from cost or unless it reflects a known deterioration of consequence in the company's position. In a well-defined bear market many sound common stocks sell temporarily at extraordinary low prices. It is possible that the investor may then have a paper loss of fully 50 per cent on some of his holdings, without any convincing indication that the underlying values have been permanently affected.

An argument is made that there are just too many question marks about the near future; wouldn't it be better to wait until things clear up a bit? You know the prose: "Maintain buying reserves until current uncertainties are resolved," etc. Before reaching for that crutch, face up to two unpleasant facts: The future is never clear and you pay a very high price for a cheery consensus. Uncertainty actually is the friend of the buyer of long-term values.

Thousands of people have tried, and the evidence is clear: The more you trade, the less you keep.

If you expect to continue to purchase stocks throughout your life, you should welcome price declines as a way to add stocks more cheaply to your portfolio.

There are substantial rewards for adopting a regular routine of investing and following it no matter what, and additional rewards for buying more shares when most investors are scared into selling.