Paul Samuelson Quotes

But whatever the consensus on the EMH, I know of no serious academic, professional money manager, trained security analyst, or intelligent individual investor who would disagree with the thrust of EMH: The stock market itself is a demanding taskmaster. It sets a high hurdle that few investors can leap.

I take the market-efficiency hypothesis to be the simple statement that security prices fully reflect all available information.

In college I started studying the stock market. I went down to the stock exchange, watched all the activity from the visitors' gallery, people running around, calling numbers, shouting, and all the paper flying and the bells ringing, and of course that was exciting, and it seemed to lend itself to my analytical skills.

Money you won't need to use for at least seven years is money for investing. The goal here is to have your account grow over time to help you finance a distant goal, such as building a retirement fund. Since your goal is in the future, money for investing belongs in stocks.

I love the competitive part of stocks. A lot of fear and greed, that's all it is. All I see is green and red.

In college, I was told the market can't be beat.

Individual investors have become far more powerful than anyone gives them credit for. Today, 85 million Americans invest in stocks. Collectively, that kind of buying and selling power can move markets.

With 'posts' running in the millions, Internet message boards have become an essential part of the savvy investor's arsenal.

You don't make money when you buy stocks. And you don't make money when you sell stocks. You make money by waiting.

The only way one should buy stocks is if you understand the underlying business. You stay within the circle of competence. You buy businesses you understand.

I don't know anything about a stock!

Market timing doesn't work. If all the bubbles and all this mispricing really exist, how come so few people see it before it turns out that way?

When it comes to valuation, there's only one thing stock investors really care about, which is earnings.

What indexing does is neutralize a large part of the stock market. There's no trading in those stocks, or almost none.

All the math you need in the stock market you get in the fourth grade.

The stock market is a wonderfully efficient mechanism for transferring wealth from the impatient to the patient.

An important key to investing is to remember that stocks are not lottery tickets.

There is general agreement among researchers that nearly all stock pickers, whether they know it or not-and few of them do-are playing a game of chance.

If I subscribed to the efficient market theory I would still be delivering papers

All sensible investing is value investing

Read Ben Graham and Phil Fisher read annual reports, but don't do equations with Greek letters in them.

Making an investment decision is like formulating a scientific hypothesis and submitting it to a practical test. The main difference is that the hypothesis that underlies an investment decision is intended to make money and not to establish a universally valid generalization.

Investing in stocks is an art, not a science, and people who've been trained to rigidly quantify everything have a big disadvantage.

When asked how he became so successful in investing, Buffett answered: 'we read hundreds and hundreds of annual reports every year.

Growth and value investing are joined at the hip.