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Obvious prospects for physical growth in a business do not translate into obvious profits for investors.
“For then, if another bull market comes along, he will take the big rise not as a danger signal of an inevitable fall, not as a chance to cash in on his handsome profits, but rather as a vindication of the inflation hypothesis and as a reason to keep on buying common stocks no matter how high the market level nor how low the dividend return. That way lies sorrow.”
― The Intelligent Investor
― The Intelligent Investor
“When things are going extremely well, realize it’s not as good as you think. You are not invincible, and if you acknowledge that luck brought you success then you have to believe in luck’s cousin, risk, which can turn your story around just as quickly.”
― The Psychology of Money
― The Psychology of Money
“the investor’s chief problem—and even his worst enemy—is likely to be himself.”
― The Intelligent Investor
― The Intelligent Investor
“Nowhere in any great library of the world did it say one had to let a mighty injustice occur before getting out of your chair. Better to parry the sword than heal the wound it made in the flesh.”
― The Dawn of Yangchen
― The Dawn of Yangchen
“Wealth is the nice cars not purchased. The diamonds not bought. The watches not worn, the clothes forgone and the first-class upgrade declined. Wealth is financial assets that haven’t yet been converted into the stuff you see.”
― The Psychology of Money
― The Psychology of Money
Justin’s 2025 Year in Books
Take a look at Justin’s Year in Books, including some fun facts about their reading.
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