Favorite Investment Quotes from People you have admired.
Do you have an investor whom you admire ? Is there any quotes you would like to share from other investors in real estate, equities etc who has inspired you?
Jim Rogers is one my all time favorite investors since my early 20s. He became a multi-millionaire at the young age of 37. There is a lot of investing wisdom I gained from Jim, not just in the equities markets, but also the way I like to approach real estate investing.
Here are a few of my favorite quotes from Jim.
1) The fundamental strategy is this: stay with what you know and expand on it. Concentrate on what you know and changes you see - you will see a major change coming long before I ever will, long before anybody else will, because "X" is your passion; they are what you are sitting around reading about all the time.
2) You should wait until you find something you are so thoroughly sure of, based on your wealth of knowledge, and something that is so cheap, that buying it is a fool proof as going over to the corner and picking up the money. That is what successful investors do. They do not do a lot of jumping around. Warren Buffet rarely changes his holdings. I do not change my positions a lot since I invest in secular trends, which by definition lasts many years.
3. If I were to tell you that you would make only twenty investments in your lifetime, chances are you would be extremely careful about investing. Most people jump from here to there. If you are a successful investor, you should be careful as you would be if you had 25 investments to make over the course of your life. That is the way successful investors make money.
4. If you want to make a lot of money, resist diversification. Brokers promote the notion that everybody should diversify. The way to get rich is to find what is good, focus on it, and concentrate your resources there. But make sure you are right. For investors who want to make a lot of money, stay with what you know, do not jump around, and invest very rarely and in a concentrated way. Stick with what you, yourself have a great wealth of knowledge in.
5. I am an investor, not a trader. I look to buy assets cheap and never sell it.
6. Any spare time I have now I want to devote to my wife and children. I would rather spend time with my daughters than do just about anything else. There is nobody I would rather have dinner with, nobody I would rather do anything with, than Happy, Baby Bee, and Paige.
7. Investor always feel that they need to be doing something all the time. Sometimes the best thing that an investor can do is nothing.