Quotes in Investing

The market can stay irrational longer than you can stay solvent.


I won't close down a business of subnormal profitability merely to add a fraction of a point to our corporate returns. I also feel it inappropriate for even an exceptionally profitable company to fund an operation once it appears to have unending losses in prospect. Adam Smith would disagree with my first proposition and Karl Marx would disagree with my second; the middle ground is the only position that leaves me comfortable.


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