‘Fundamental analysis seeks to establish how underlying values are reflected in stock prices, whereas the theory of reflexivity shows how stock prices can influence underlying values’ – George Soros
‘There’s no use diversifying into unknown companies just for the sake of diversity. A foolish diversity is the hobgoblin of small investors. That said, it isn’t safe to own just one stock, because in spite of your best efforts, the one you choose might be the victim of unforeseen circumstances. In small portfolios, I’d be comfortable owning between three and ten stocks.’ – Peter Lynch
‘He who lives by the crystal ball will eat shattered glass.’ – Ray Dalio
‘Investing is fun and exciting, but dangerous if you don’t do any work.’ – Peter Lynch
‘Economics seeks to be a science. Science is supposed to be objective and it is difficult to be scientific when the subject matter, the participant in the economic process, lacks objectivity.’ – George Soros
‘If investing is entertaining, if you’re having fun, you’re probably not making any money. Good investing is boring.’ – George Soros
‘Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.’ – George Soros
‘When you’re faced with a choice, you have one of three choices that you can have. You can have those with power decide. You can have one man, one vote. Or you can have believability-weighted decision-making.’ – Ray Dalio
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Some quotes inside this book:
‘I’m just saying that if you understand how the economic machine works, it just works like a machine. There are cause-effect relationships.’ – Ray Dalio
‘You have to put yourself in my shoes as a person who believes in radical truth and in being radically transparent, not in seeing things through somebody else’s eyes.’ – Ray Dalio
‘When a long-term trend loses it’s momentum, short-term volatility tends to rise. It is easy to see why that should be so: the trend-following crowd is disoriented.’ – George Soros
‘I can be stressed, or tired, and I can go into a meditation and it all just flows off of me. I’ll come out of it refreshed and centered and that’s how I’ll feel and it’ll carry through the day.’ – Ray Dalio
‘In stocks as in romance, ease of divorce is not a sound basis for commitment.’ – Peter Lynch
‘The most important organ in the body as far as the stock market is concerned is the guts, not the head. Anyone can acquire the know-how for analyzing stocks.’ – Peter Lynch
‘I’m going to give away a lot more than half my money. I’d be happy to give that to the government if the government put together programs that were like I’m giving away to charity, in which I believe the money is effectively used to help people.’ – Ray Dalio
‘Everything adds up to a major crisis. Humanity is faced with a global energy crisis . The core of the crisis lies in the increasing shortage of oil.’ – George Soros
‘Avoid hot stocks in hot industries.’ – Peter Lynch
‘The media has the power to create an entrenched perception of reality that’s incorrect.’ – Ray Dalio
‘The person that turns over the most rocks wins the game. And that’s always been my philosophy.’ – Peter Lynch
‘If you hope to have more money tomorrow than you have today, you’ve got to put a chunk of your assets into stocks. Sooner or later, a portfolio of stocks or stock mutual funds will turn out to be a lot more valuable than a portfolio of bonds or CDs or money-market funds.’ – Peter Lynch
‘An open society is a society which allows its members the greatest possible degree of freedom in pursuing their interests compatible with the interests of others.’ – George Soros
