Rick Santelli Quotes

I did get introduced to the financial markets while I was in college. And I think I learned also how to sort of filter out all of the nonrational, or nonsensible, noise and sort of concentrate on what matters, and that's really what markets are about.

What we do is we test what works on Wall Street. And sometimes it is earnings momentum, and sometimes it's earnings surprises. Sometimes it's price-to-sales cash flow, and then we put together our stock selection models.

I'm not emotional about investments. Investing is something where you have to be purely rational and not let emotion affect your decision making - just the facts.

Whenever you try to pick market tops and bottoms, you are making a prediction. Guessing what stock is going to outperform the market is forecasting, as is selling a stock for no apparent reason. Indeed, nearly all capital decisions made by most people are unconscious predictions.

I mean I'm not smarter than the market, but I can recognize a good tape and a bad tape. I recognize when it's right and when it's wrong and that's what my strength is.

The market is like a language, and you have to be able to understand what they're saying.

I grade my stocks. I'm what they call a quant, one of the geeks of the stock market.

When buying shares, ask yourself, would you buy the whole company?

I got into online trading. It was alarmingly easy to do. I went through the whole cycle of emotions, from supreme self-confidence to total impotence. I broke even in the end.

Tape reading is a lost art that today is not very useful.

In my business investing, you are buying a stock, and someone else is selling the stock. Right there, that's like a debate. Is the stock going up, or is it going to go down?

Trading demands total concentration and the ability to do several things at once while instantly recalling trading prices from the day, or week, before.

Your job as a smart investor is to separate the facts and the news from the fiction and the noise.

There are two ways to approach the market. You can guess which direction prices will go in next, or you can figure out what businesses and their securities are really worth.

Everyone has the idea of owning good companies. The problem is that they have high prices in relations to assets and earnings, and that takes all of the fun out of the game.

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

Numerous academic studies have shown that amateur investors make poor traders - buying stocks for the wrong reasons, holding losers for too long, and acting on whims and emotions.

The media and marketing deluge has spawned a new type of Wall Street loser: the armchair momentum player. These are novice investors who engage in short-term stock buying and selling based on media reports or an expert's enthusiasm.

The next time you see an outside day with a down close lower than the previous day, don't get scared, get ready to buy!

What turned me on then, and turns me on even today - and when the time comes from me to retire from management I think I'd still be interested in it - is that everything that happens in the world affects the price of securities.

The proposition is that prices reflect all available information, which in simple terms means since prices reflect all available information, there's no way to beat the market.

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

I'm a futures man.

I set up my own trading center in my Cabot dorm room... with my computer, my fax machine, and my telephone.

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?