James Emanuel > Quotes

“When you build a bridge, you insist that it can carry 30,000 pounds, but you only drive 10,000 pound trucks across it. You require a margin of safety, and rightly so.” Warren Buffett”
― James Emanuel, Success in the Stock Market: See the world through the eyes of a professional stock market investor

“This is what passive investors get if they invest in an S&P500 tracker or ETF. Not very good, huh? Worse still, some active fund managers do no better than the underlying index because they invest in the same companies in similar proportions to the index. When the fees and transaction costs of fund managers are taken into account the resultant return is actually worse than the index!”
― James Emanuel, Success in the Stock Market: See the world through the eyes of a professional stock market investor

“Cash is an asset and so it is included in the value of assets, equity and capital in our valuation metrics. But cash does not generate a return for the business because it is not being deployed by the business.”
― James Emanuel, Success in the Stock Market: See the world through the eyes of a professional stock market investor

“Without an understanding of the variables affecting growth, an investor cannot assess intrinsic value so cannot gauge whether or not something is a value investment at its current price.”
― James Emanuel, Success in the Stock Market: See the world through the eyes of a professional stock market investor

“The lesson to be learned here is that you should not attempt to emulate a formula applied by any other successful trader, past or present.”
― James Emanuel, Success in the Stock Market: See the world through the eyes of a professional stock market investor