Jesse Livermore Quotes

I do lament how many investors focus on all the short-term sugar buzz of some marginal improvement in something - nothing history books are ever going to be written about. In many cases, these are quick and easy ways to make money.

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

Investing is the greatest business in the world because you never have to swing. You stand at the plate; the pitcher throws you General Motors at 47! U.S. Steel at 39! And nobody calls a strike on you. There's no penalty except opportunity. All day you wait for the pitch you like; then, when the fielders are asleep, you step up and hit it.

Confusing speculation with investment is always a mistake.

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

The distinction between investment and speculation in common stocks has always been a useful one and its disappearance is cause for concern.

Always remember that market quotations are there for convenience, either to be taken advantage of or to be ignored.

You must never delude yourself into thinking that you're investing when you're speculating.

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

You'd rather own gold; never own the miner.

My advice to the average investor in 1988 is to be patient and think long-term. It will take 18 months for confidence to get better and, in the meantime, this is absolutely no place for short-term money.

Don't bottom fish.

I caught hold of the great bull market in soybeans in 1977. I had no idea what I was doing, incidentally.

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

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.

Speculation, in its broadest sense, is not an evil in itself, but the contrary, and relieves public distress far oftener than it creates it.

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.

The first thing I heard when I got in the business - not from my mentor - was, 'Bulls make money, bears make money, and pigs get slaughtered.' I'm here to tell you I was a pig. And I strongly believe the only way to make long-term returns in our business that are superior is by being a pig.

There's so much disagreement about investing, and it's because nobody really knows.

Dealing with uncertainty is always a key challenge for investors. But dealing with uncertainty doesn't mean avoiding it - on the contrary, it is often fuzziness about a company's future that creates the type of opportunity bargain-hunting investors cherish.

We have never shied away from making investments. Even during downcycles, we never stopped our investments.

My advice to most people is don't short stocks. It's a very, very difficult business. And you can really get clobbered.

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

We talk about long-term patient investing, and that idea that slow and steady does win the race, that time can be your best friend when it comes to investing. That's why we have a turtle as a logo at Ariel.

Betting that markets will be 'volatile' is like betting the weather will be partly cloudy. It's a smart-sounding strategy that doesn't mean much.