Walter Schloss famous quotes

When it comes to investing, my suggestion is to first understand your strengths and weaknesses, and then devise a simple strategy so that you can sleep at night!
-- Walter Schloss

#Sleep #Simple #Night

One of the tricks of this business is, keep your losses down.
-- Walter Schloss

#Loss #Investing #Tricks

I'm not very good on timing. In fact, I've stayed away from it.
-- Walter Schloss

#Facts #Investing #Timing

You have to have confidence in what you're doing.
-- Walter Schloss

#Investing #Have Confidence #Values

Stockbrokers aren't too interested in a stock you can sit there for five years with.
-- Walter Schloss

#Years #Investing #Stockbrokers

When I buy a stock, I have kind of an idea where I want to sell it.
-- Walter Schloss

#Ideas #Investing #Want

Our average holding period is four years.
-- Walter Schloss

#Years #Average #Four

I'm a passive investor. There are people who are very aggressive; they try to buy companies.
-- Walter Schloss

#People #Trying #Investing

Making a decision to sell is the most difficult thing we do.
-- Walter Schloss

#Decision #Investing #Difficult

All the publicity about value investing - it's become a very popular thing.
-- Walter Schloss

#Publicity #Investing #Very Popular

Graham liked the idea of protection on the downside.
-- Walter Schloss

#Ideas #Investing #Protection

I was in Graham's office the day he bought GEICO. Warren owns one-third of the stock today.
-- Walter Schloss

#Office #Today #Investing

This is a business. Like any other business.
-- Walter Schloss

#Investing #Values

Try not to let your emotions affect your judgement.
-- Walter Schloss

#Judgement #Trying #Investing

Earnings can change dramatically. Usually assets change slowly.
-- Walter Schloss

#Earning #Investing #Assets

Have a philosophy of investment and try to follow it.
-- Walter Schloss

#Philosophy #Trying #Investing

Look at companies selling at new lows.
-- Walter Schloss

#Investing #Looks #Selling

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

#Important #Use #Investing

Have patience. Stocks don't go up immediately.
-- Walter Schloss

#Investing #Having Patience #Values

Yes, Warren has done very well.
-- Walter Schloss

#Investing #Done #Wells

Ben was a great believer in buying a diversified group of securities, so that he limited his risk.
-- Walter Schloss

#Risk #Buying #Groups

We basically followed the idea of buying comapnies selling below working-capital - at two thirds of working-capital.
-- Walter Schloss

#Ideas #Two #Investing

We don't put the same amount of money in each stock.
-- Walter Schloss

#Investing #Values

We may buy a little bit of a stock, to get our feet wet and get a feeling for it.
-- Walter Schloss

#Feet #Feelings #Littles

Don't be afraid to be a loner but be sure that you are correct in your judgement.
-- Walter Schloss

#Judgement #Loner #Investing

Try to look for weaknesses in your thinking.
-- Walter Schloss

#Thinking #Trying #Investing

Have the courage of your convictions once you have made a decision.
-- Walter Schloss

#Decision #Investing #Conviction

Don't be in too much of a hurry to sell.
-- Walter Schloss

#Investing #Too Much #Values

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

#Book #Trying #Investing

Be aware of the level of the stock market. Are yields low and PE ratios high?
-- Walter Schloss

#Yield #Investing #Levels

I find it helpful to buy near the low of the last few years.
-- Walter Schloss

#Years #Lasts #Investing

Fear and greed are probably the worst emotions to have in connection with the purchase and sale of stocks.
-- Walter Schloss

#Greed #Connections #Investing

Devise a simple strategy so you can sleep at night.
-- Walter Schloss

#Sleep #Night #Simple

Don't sell on bad news.
-- Walter Schloss

#News #Investing #Values

Don't buy on tips or for a quick move.
-- Walter Schloss

#Moving #Investing #Values

Managements, you know, often think of themselves.
-- Walter Schloss

#Thinking #Investing #Management

A lot of companies have lots of assets tied up in plant and equipment. Well, is it old plant, or is it new plant?
-- Walter Schloss

#Investing #Plant #Equipment

If the market is so cheap, you want to get something with a little more zip in it, or potential.
-- Walter Schloss

#Littles #Zips #Investing

We get a feeling, if we can, about what we think the company is worth.
-- Walter Schloss

#Thinking #Feelings #Investing

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

#Investing #Values

If the market were way over priced, I wouldn't own any stocks.
-- Walter Schloss

#Investing #Way #Values

Remember that a share of stock represents a part of a business and is not just a piece of paper.
-- Walter Schloss

#Paper #Investing #Pieces

Use book value as a starting point to try and establish the value of the enterprise.
-- Walter Schloss

#Book #Trying #Use

Be sure that debt does not exceed 100% of the equity.
-- Walter Schloss

#Debt #Doe #Investing

Make sure you have the courage to stay true to your convictions and not let the market affect your emotions.
-- Walter Schloss

#Investing #Emotion #Stay True

I tried to follow Ben Graham's ideas.
-- Walter Schloss

#Ideas #Investing #Values

You know, people tend to like to buy companies that are doing well.
-- Walter Schloss

#People #Investing #Wells

We like to buy stocks which we feel are undervalued and then we have to have the guts to buy more when they go down.
-- Walter Schloss

#Investing #Guts #Feels

My job was to find stocks that were undervalued.
-- Walter Schloss

#Jobs #Investing #Values

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

#Buying #Use #Investing

You have to invest the way that's comfortable for you.
-- Walter Schloss

#Investing #Way #Values

Fear and greed tend to affect one's judgement.
-- Walter Schloss

#Greed #Judgement #Investing

By setting up Berkshire Hathaway, Warren has done everything very rationally.
-- Walter Schloss

#Investing #Done #Values

I found that it was much better to look at the figures rather than people.
-- Walter Schloss

#People #Looks #Investing

Ben's emphasis was on protecting his expectation of profit with minimum risk.
-- Walter Schloss

#Expectations #Risk #Investing

Warren is a very good judge of people and he's a very good judge of businesses.
-- Walter Schloss

#Judging #People #Investing

You have to be a little aware of the emotions of the people who have invested with you.
-- Walter Schloss

#People #Littles #Investing

We do not spend a great deal of time talking to management.
-- Walter Schloss

#Talking #Investing #Management

I helped Ben with the third edition of Security Analysis, published in 1951.
-- Walter Schloss

#Investing #Analysis #Thirds

When you buy a depressed company it's not going to go up right after you buy it, believe me.
-- Walter Schloss

#Believe #Investing #Company

Sell is tough. It's the worst, it's the most difficult thing of all.
-- Walter Schloss

#Investing #Tough #Worst

You never get the high and you never get the low.
-- Walter Schloss

#Investing #Lows #Values

Each year we buy stocks and they go up, we sell them and then we try to buy something cheaper.
-- Walter Schloss

#Years #Trying #Investing

My first job at Graham-Newman was to prepare the annual report for that 10th year.
-- Walter Schloss

#Jobs #Years #Investing

I agree with Warren to keep it simple and not use higher mathematics in your analysis.
-- Walter Schloss

#Simple #Use #Investing

If the stock goes down we want to buy more.
-- Walter Schloss

#Investing #Want #Values

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

#Thinking #Trying #Investing

Buy stocks where the outlook is not good.
-- Walter Schloss

#Investing #Outlook #Values

I have been around a long time and Wall Street has changed a lot.
-- Walter Schloss

#Wall #Long #Investing

You have to have patience in this field.
-- Walter Schloss

#Fields #Investing #Having Patience

The market is a very emotional place that appeals to fear and greed.
-- Walter Schloss

#Emotional #Greed #Investing

Most look at earnings and earnings potential, well I can't get into that game.
-- Walter Schloss

#Games #Earning #Looks

Look for companies that do not have a lot of debt.
-- Walter Schloss

#Debt #Looks #Investing

Be careful of leverage. It can go against you.
-- Walter Schloss

#Investing #Be Careful #Careful

You never really know a stock until you own it.
-- Walter Schloss

#Investing #Values

I like the idea of company-paid dividends.
-- Walter Schloss

#Ideas #Investing #Company

Try to buy assets at a discount than to buy earnings.
-- Walter Schloss

#Trying #Earning #Investing

Enjoy your work and have ethical standards.
-- Walter Schloss

#Investing #Ethical #Standards

One has to know more about a company if one buys earnings.
-- Walter Schloss

#Earning #Investing #Company

Ben was a very simple straightforward man with a brilliant quick mind.
-- Walter Schloss

#Simple #Men #Mind

Ben didn't want to lose money. He had had a rough time during the depression.
-- Walter Schloss

#Want #Investing #Rough Times

Some kinds of stocks are easier to analyse than others.
-- Walter Schloss

#Investing #Kind #Easier

Book values have some good and some bad features.
-- Walter Schloss

#Book #Investing #Values

I don't have a ticker-tape machine in my office.
-- Walter Schloss

#Office #Investing #Tape

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

#Trying #Investing #Company

People don't like to buy things that are going down.
-- Walter Schloss

#People #Investing #Values

I liked the results of the profits in the markets.
-- Walter Schloss

#Investing #Profit #Results

If you are honest, hardworking, reasonably intelligent and have good common sense, you can do well in the investment field as long as you are not too greedy and don't get too emotional when things go against you.
-- Walter Schloss

#Intelligent #Emotional #Common Sense

Timidity prompted by past failures causes investors to miss the most important bull markets.
-- Walter Schloss

#Past #Missing #Important