James B. Stewart Quotes

Sometimes it takes longer to create value, but if the companies generate more earnings, the stocks will ultimately reflect that.

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.

Of all the big Internet companies, Yahoo is the most highly valued on a price-earnings and price-sales basis.

Warren Buffett is famous for talking about the 'intrinsic value' of stocks. But while many people parrot this phrase, few know what it really means.

Approaches to determining stock values vary, but fundamentally, each company judging itself undervalued is saying that its future stream of earnings justifies a higher price than the stock market is willing to accord it.

An investor calculates what a stock is worth, based on the value of its businesses.

I think you have to learn that there's a company behind every stock, and that there's only one real reason why stocks go up. Companies go from doing poorly to doing well or small companies grow to large companies.

What the investment community does like is short-term measures designed to boost share prices.

Who cares if companies are overvalued or not?

I love the Knicks and Rangers, right, but you still have a responsibility to your shareholders. They're not there because they're fans. You don't invest hundreds of millions of dollars in a stock because you're a fan. You do it because you think that the business is going to increase in value, that the stock price is going to go up.

The ideal form of common stock analysis leads to a valuation of the issue which can be compared with the current price to determine whether or not the security is an attractive purchase.

All intelligent investing is value investing - acquiring more that you are paying for. You must value the business in order to value the stock.

And I had an old-fashioned idea that dividends were a good thing.

If WikiLeaks were a for-profit company, determining its real value would be a nearly impossible task.

To know whether stocks are cheap or pricey, we typically look at price-to-earnings ratio. Valuation is a tougher question than many folks realize.

I found an approach to investing that made enormous sense to me: rigorously analyzing a company's fundamentals, understanding exactly how it makes money, developing a view on the business's future prospects, and deciding if it's a good business.

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.

When we took Netscape public, if people wanted to invest in the web, that was the only stock that they could do it by investing in. So Netscape's market value was higher than it probably otherwise would have been if there were lots of other ways to play that theme.

You'll get nowhere buying stocks just because they have a great story.

Of course, the discounting of future earnings should hurt all stocks. But it should hurt technology stocks more than others, because so many of them are valued at extremely high levels relative to their current earnings.

I think most CEOs think their stock is undervalued, probably.

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

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?

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

The usual reason companies are funded or valued on the stock market for not having a current profit is because the investors believe there will be a future profit.