I asked if they measured the efficacy of the analysts’ historical picks. No. I asked if they measured the accuracy of the analysts’ fundamental estimates. No.
Curiosity’s treasures are a bitch to extract.
You can’t see the end in advance, nor can I, nor can Druck.
As the return period increases, we are witnessing changes in productivity, technology, business organization, and much more.
As returns in the markets grew stronger throughout the 80s and into the 90s the savings rates continued to plunge.
Dollar volume in large and small stocks is 245x and 43x greater, respectively, than micro cap.
Instead of chasing this rising market upward, individual investors have been backing away from it.
There is compelling evidence that the devices we’ve placed in young people’s hands are having profound effects on their lives—and making them seriously unhappy.
Pay yourself first.
Ironically, the proliferation of index funds has made investing more complicated, not less.
There’s nothing magical about an all-time high that prevents large declines to follow.
But, here I am, trying to explain during these last nine months or so why the general discount rate of assets has dropped by roughly two percentage points from the 1900 to 1997 average.
You can do whatever the heck you want with your money.
The power with which we view Facebook and Google and Apple today, imagine all that power wrapped up into one company and that’s what Microsoft was.
Right now, you have no idea who’s adding value.
Everybody rejected our pitch.
There’s a lot of champs in prison.
Very few athletes are controlling their own Twitter accounts.
He once said he looked for “a family company run by a third-generation Yale man who spends his afternoons drinking martinis at the club.”