Value Investing Quotes & Sayings

Before selling, try to re-evaluate the company again and see where the stock sells in realtion to its book value. — Walter Schloss

Warren Buffett once wrote that value investing is like an inoculation
it either takes or it doesn't
and when you explain to somebody what it is and how it works and why it works and show them the returns, either they get it or they don't. — Seth Klarman

The whole concept of dividing it up into 'value' and 'growth' strikes me as twaddle. It's convenient for a bunch of pension fund consultants to get fees prattling about and a way for one advisor to distinguish himself from another. But, to me, all intelligent investing is value investing. — Charlie Munger

You must value the business in order to value the stock. — Charlie Munger

Value investing doesn't always work. The market doesn't always agree with you. Over time, value is roughly the way the market prices stocks, but over the short term, which sometimes can be as long as two or three years, there are periods when it doesn't work. And that is a very good thing. The fact that our value approach doesn't work over periods of time is precisely the reason why it continues to work over the long term. — Joel Greenblatt

Growth and value investing are joined at the hip. — Warren Buffett

It is important to remember that value investing is not a perfect science. It is an, with an ongoing need for judgment, refinement, patience, and reflection. It requires endless curiosity, the relentless pursuit of additional information, the raising of questions, and the search for answers. It necessitates dealing with imperfect information - knowing you will never know everything and that that must not prevent you from acting. It requires a precarious balance between conviction, steadfastness in the face of adversity, and doubt - keeping in mind the possibility that you could be wrong. — Seth Klarman

What may be the significance of so many forms of "spirituality" on this planet that are antagonistic to "life" - and Christianity at the head of that list, with its "calumny" against life, its faith that just because nothing in life is eternal therefore life itself contains no value, nothing that makes it worth living, investing our souls in, committing our consciences to? — Kenny Smith

investors. I have been a student of the philosophy of value investing, which of course was established, executed, and popularized by superinvestors Benjamin Graham, Warren Buffet, and Seth Klarman among — Sundeep Bajikar

Since a relationship involves two members investing in it, its value increases twice as fast as one's investment. — Kevin Kelly

Value investing is risk aversion. — Seth Klarman

Most people aren't cut out for value investing, because human nature shrinks from pain, — Jean-Marie Eveillard

It is crucial to have a strategy in place before problems hit, precisely because no one can accurately predict the future direction of the stock market or economy. Value investing, the strategy of buying stocks at an appreciable discount from the value of the underlying businesses, is one strategy that provides a road map to successfully navigate not only through good times but also through turmoil. — Seth Klarman

I strongly believe in the fact
that there's still plenty of money and plenty of private equity capital
available around the globe. What are in short supply are great entrepreneurs
and great teams. A trading opportunity or a company's biggest
challenge is and has always been the team behind it. There's enormous
change under way in every facet of the world. Some is technology
driven, some is market driven. All that change creates unprecedented
opportunity, but to take full advantage of such opportunities I mostly
focus on the team. The right teams and right people behind those
opportunities always win. There is no secret sauce. Trading and investing
has, in my experience, boiled down to building relationships and
exchanging value. It consists of striking the right balance between
backing and interacting with the right teams with the right business
model at the right time and with the right amount of money. — Ziad K. Abdelnour

You're looking for a mispriced gamble. That's what investing is. And you have to know enough to know whether the gamble is mispriced. That's value investing. — Charlie Munger

I think wealthy conservatives are busy investing in profit and job creation and enterprise, and wealthy liberals, many of them either from the media industry themselves or from - they recognize the value of communications and are more ready to put money into a less profitable enterprise, namely the media. — Karl Rove

All sensible investing is value investing — Charlie Munger

Many stock options in the corporate world have worked in exactly that fashion: they have gained in value simply because management retained earnings, not because it did well with the capital in its hands. — Warren Buffett

The ability of individuals to extract wealth from society by profiting from land also leads to cultural degeneration and a loss of social cohesion over time... In general, as the value of land increases, the return on capital tends to decrease comparatively, which discourages business owners from investing in capital goods and private enterprise... Resources flow away from endeavours that can create jobs, produce wealth, and enliven society, and instead flow into land speculation. — Martin Adams

One of the big problems with growth investing is that we can't estimate earnings very well. I really want to buy growth at value prices. I always look at trailing earnings when I judge stocks. — David Dreman

Value investing by its very nature is contrarian. — Seth Klarman

Try to establish the value of a company. — Walter Schloss

If you know how to value businesses, it's crazy to own 50 stocks or 40 stocks or 30 stocks, probably because there aren't that many wonderful businesses understandable to a single human being in all likelihood. To forego buying more of some super-wonderful business and instead put your money into #30 or #35 on your list of attractiveness just strikes Charlie and me as madness. — Warren Buffett

As he throws himself into one scheme after another, he draws lessons that improve his focus and judgment. He knits what he learns into mental models of investing, which he then uses to size up more complex opportunities and find his way through the weeds, plucking the telling details from masses of irrelevant information to reach the payoff at the end. These behaviors are what psychologists call "rule learning" and "structure building." People who as a matter of habit extract underlying principles or rules from new experiences are more successful learners than those who take their experiences at face value, failing to infer lessons that can be applied later in similar situations. Likewise, people who single out salient concepts from the less important information they encounter in new material and who link these key ideas into a mental structure are more successful learners than those who cannot separate wheat from chaff and understand how the wheat is made into flour. — Peter C. Brown

Civil war tends to give a helping hand to the velocity of currency, Ukraine can attest to that. However, it is quite an unpleasant way to find the intrinsic value of worthlessness. — Tom Wallace

While some might mistakenly consider value investing a mechanical tool for identifying bargains, it is actually a comprehensive investment philosophy that emphasizes the need to perform in-depth fundamental analysis, pursue long-term investment results, limit risk, and resist crowd psychology. — Seth Klarman

It turns out that value investing is something that is in your blood. There are people who just don't have the patience and discipline to do it, and there are people who do. So it leads me to think it's genetic. — Seth Klarman

The only intelligence investing is value investing ... to acquire more than one is paying for. — Charlie Munger

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. — Frank Quattrone

Loss of focus is what most worries Charlie and me when we contemplate investing in businesses that in general look outstanding. All too often, we've seen value stagnate in the presence of hubris or of boredom that caused the attention of managers to wander. — Warren Buffett

Value investing requires a great deal of hard work, unusually strict discipline, and a long-term investment horizon. Few are willing and able to devote sufficient time and effort to become value investors, and only a fraction of those have the proper mind-set to succeed. — Seth Klarman

As Buffett has often observed, value investing is not a concept that can be learned and gradually applied over time. It is either absorbed and adopted at once, or it is never truly learned. — Seth Klarman

If there are not too many value stocks that I can find, the market isn't all that cheap. — Walter Schloss

The value of any investment is, and always must be, a function of the price you pay for it. — Benjamin Graham

Ben was really a contrarian but he didn't use those terms because he was really buying value. — Walter Schloss

Investing time in adding value to yourself is the best way to invest time — Sunday Adelaja

[W]e think the very term 'value investing' is redundant. What is 'investing' if it is not the act of seeking value at least sufficient to justify the amount paid? Consciously paying more for a stock than its calculated value
in the hope that it can soon be sold for a still-higher price
should be labeled speculation (which is neither illegal, immoral nor
in our view
financially fattening). — Warren Buffett

Calculate "owner earnings" to get a true reflection of value. — Warren Buffett

Value investing is simple to understand but difficult to implement. Value investors are not supersophisticated analytical wizards who create and apply intricate computer models to find attractive opportunities or assess underlying value. The hard part is discipline, patience, and judgment. Investors need discipline to avoid the many unattractive pitches that are thrown, patience to wait for the right pitch, and judgment to know when it is time to swing. — Seth Klarman

There is no such thing as a value trap. There are investing mistakes. — Mohnish Pabrai

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

The secret to investing is to figure out the value of something - and then pay a lot less. — Joel Greenblatt

No economic measure has more value for a nation than investing in a clean & sustainable low carbon future — Phil Harding

Investing scarce resources in large-scale public projects and capital goods does increase output, but it does not contribute to economic progress if these investments do not produce things people value. — Christopher J. Coyne

I find value investing to be a stimulating, intellectually challenging, ever changing, and financially rewarding discipline — Seth Klarman

Basically, we try to buy value expressed in the differential between its price and what we think its worth. — Walter Schloss

Value investing is predicated on the efficient market hypothesis being wrong. — Seth Klarman

Utilities used deregulation to effect a series of mergers limiting competition. In order to accelerate profits, cost cutting ensued, involving the layoff of thousands of utility company employees, including some who were responsible for maintenance of generation, transmission, and distribution systems. A number of investor-owned utilities stopped investing in the maintenance and repair of their own equipment, and, instead, cut costs to enhance the value of their stock rather than spending money to enhance the value of their service. — Dennis Kucinich

What's in my mind is that I'm investing in people. It might be through a building or a program, but I'm investing in people. And the people that I'm investing in are underprivileged or hold a core value that I believe in. — Daniel A. D'Aniello

Understanding the value of a security and whether it's trading above or below that value is the difference between investing and speculating. — Coreen T. Sol

The difference between the price we pay for a stock and its liquidation value gives us a margin of safety. This kind of investing is one of the most effective ways of achieving good long term results. — Peter Cundill

At the end of the day, no amount of investing, no amount of clean electrons, no amount of energy efficiency will save the natural world if we are not paying attention to it - if we are not paying attention to all the things that nature give us for free: clean air, clean water, breathtaking vistas, mountains for skiing, rivers for fishing, oceans for sailing, sunsets for poets, and landscapes for painters. What good is it to have wind-powered lights to brighten the night if you can't see anything green during the day? Just because we can't sell shares in nature doesn't mean it has no value. — Thomas L. Friedman

Successful real estate investing begins with identifying value. How do investors identify value? That's easy. They look at real estate. They look at a lot of real estate. They look very carefully at a lot of real estate. I wish I could tell you there was a shortcut, but there's not, and I caution you against trying to create one. When you are starting to learn the value of real estate in an area, you will need to look at a lot of real estate. And as you carefully begin to get a sense of what people are asking and what people are willing to pay, you gain a sense of market value - what's worth what. This applies to both sales prices and rental rates. These are the two big variables in the value equation. — Gary Keller

Investing is a simple process of taking into account the present value and future value. The other major factor to understand here, is what you lose as a result of inaction. Consider what you can gain and what you can lose in your decision. — J.R. Rim

Value investing is the discipline of buying shares at a significant discount from their current underlying values and holding them until more of their value is realised. The element of a bargain is the key to the process. — Seth Klarman

As former physicist Al Slawsky put it in the early 1990s, "It was a bad year for value investing. In my former life, there was never a 'bad year' for gravity. — Richard R. Lindsey

Reliability investing requires finding companies trading below their inherent worth
stocks with strong fundamentals including earnings, dividends, book value, and cash flow selling at bargain prices give their quality. — Amah Lambert

By investing in anonymous
cryptocurrencies, you are buying 'insurance' against a recession, as the value of the cryptocurrency could increase significantly if the economy falters and the black market grows. — Will Martin

Value investing strategies have worked for years and everyone's known about them. They continue to work because it's hard for people to do, for two main reasons. First, the companies that show up on the screens can be scary and not doing so well, so people find them difficult to buy. Second, there can be one-, two- or three-year periods when a strategy like this doesn't work. Most people aren't capable of sticking it out through that. — Joel Greenblatt

Famed value investor Guy Spier has managed to write what is both a gripping memoir and a fascinating study of what it takes to succeed in investing and life. A must read! — John Mihaljevic

THE BEAUTY OF VALUE INVESTING is its logical simplicity. It is based on two principles: What's it worth (intrinsic value), and don't lose money (margin of safety). — Christopher H. Browne

We have long felt that the only value of stock forecasters is to make fortune-tellers look good. — Warren Buffett

The most important attribute for success in value investing is patience, patience, and more patience. The majority of investors do not possess this characteristic. — Peter Cundill

A thoughtful investment process contemplates both probability and payoffs and carefully considers where the consensus - as revealed by a price - may be wrong. Even though there are also some important features that make investing different than, say, a casino or the track, the basic idea is the same: you want the positive expected value on your side — Michael Mauboussin

Price is the most important factor to use in relation to value. — Walter Schloss

I have learned things from the game. Much of my knowledge of locations in Britain and Europe comes not from school, but from away games or the sports pages, and hooliganism has given me both a taste for sociology and a degree of fieldwork experience. I have learned the value of investing time and emotion in things I cannot control, and of belonging to a community whose aspirations I share completely and uncritically. — Nick Hornby

An outstanding addition to the volumes written on value investing. Not only do the authors offer their own valuable insights but they have provided in one publication invaluable insights from some of the most accomplished professionals in the investment business. I would call this publication a must-read for any serious investor. — Leon G. Cooperman

You shouldn't own common stocks if a 50 per cent decrease in their value in a short period of time would cause you acute distress. — Warren Buffett

Value investing is at its core the marriage of a contrarian streak and a calculator. — Seth Klarman

The entire pursuit of value investing requires you to see where the crowd is wrong so that you can profit from their misperceptions. — Guy Spier

high cash compensation teaches workers to claim value from the company as it already exists instead of investing their time to create new value in the future. — Peter Thiel

To build a twenty-first-century economy, America must revive a nineteenth-century habit
investing in the common, national economic resources that enable every person and every firm to create wealth and value. — William J. Clinton

Warren Buffett has said many times that people either get value investing in five minutes or they won't get it in five years. So, there is something in the human brain, that for some of us, makes all the difference in the world right away and the patience it requires is part of the wiring process. — Mohnish Pabrai

The key to investing in yourself is being able to see your potential, not just your actual value. Being able to visualize your value demonstrates that you are already picking up the skills of a 3D thinker. — Farshad Asl