Today’s investor cannot tell from this record what percentage gain in earnings, dividends and prices he may expect in the next ten years, but it does supply all the encouragement he needs for a consistent policy on common-stock investment.
We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful
Subjective confidence in a judgment is not a reasoned evaluation of the probability that this judgment is correct
One way to be adept at avoiding failure is to avoid attempting anything you might fail at
The personal qualities necessary for success can be nurtured. In time, the personal qualities will fully develop.
The main benefit of optimism is resilience in the face of setbacks
We need to have full confidence in our judgement about a company if we are to make a serious financial commitment to it. But, the strength of our belief that we are right has nothing to do with the validity of our judgement. And, if that sounds weird, blame it on behavioral psychology.
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