Words of Wisdom 智慧語錄智慧语录

Sometimes the questions are complicated and the answers are simple.

noreply@blogger.com (Andrew) — Tue, 07 Feb 2012 15:34:00 +0000

Sometimes the questions are complicated and the answers are simple.

If we avoid the losers, the winners will take care of themselves.

noreply@blogger.com (Andrew) — Sun, 05 Feb 2012 14:13:00 +0000

If we avoid the losers, the winners will take care of themselves.

Being too far ahead of your time is indistinguishable from being wrong.

noreply@blogger.com (Andrew) — Sun, 05 Feb 2012 14:01:00 +0000

Being too far ahead of your time is indistinguishable from being wrong.

It’s our goal to do as well as the market when it does well and better than the market when it does poorly.

noreply@blogger.com (Andrew) — Sun, 05 Feb 2012 10:41:00 +0000

It��s our goal to do as well as the market when it does well and better than the market when it does poorly.

An investor needs do very few things right as long as he avoids big mistakes. ~ Warren Buffett

noreply@blogger.com (Andrew) — Sat, 04 Feb 2012 08:33:00 +0000

An investor needs do very few things right as long as he avoids big mistakes. ~ Warren Buffett

The cautious seldom err or write great poetry.

noreply@blogger.com (Andrew) — Sat, 04 Feb 2012 07:50:00 +0000

The cautious seldom err or write great poetry.

There are old investors, and there are bold investors, but there are no old bold investors.

noreply@blogger.com (Andrew) — Fri, 03 Feb 2012 06:26:00 +0000

There are old investors, and there are bold investors, but there are no old bold investors.

The quality of a decision is not determined by the outcome. The events that transpire afterward make decisions successful or unsuccessful, and those events are often well beyond anticipating.

noreply@blogger.com (Andrew) — Fri, 03 Feb 2012 05:20:00 +0000

The quality of a decision is not determined by the outcome. The events that transpire afterward make decisions successful or unsuccessful, and those events are often well beyond anticipating.

The things that happened are only a small subset of the things that could have happened. Thus, the fact that a stratagem or action worked— under the circumstances that unfolded— doesn�宇 necessarily prove the decision behind it was wise.

noreply@blogger.com (Andrew) — Fri, 03 Feb 2012 05:06:00 +0000

The things that happened are only a small subset of the things that could have happened. Thus, the fact that a stratagem or action worked�X under the circumstances that unfolded�X doesn��t necessarily prove the decision behind it was wise.

A great deal of the success of everything we do as investors will be heavily influenced by the roll of the dice.

noreply@blogger.com (Andrew) — Thu, 02 Feb 2012 13:46:00 +0000

A great deal of the success of everything we do as investors will be heavily influenced by the roll of the dice.

Those who cannot remember the past are condemned to repeat it. ~ George Santayana

noreply@blogger.com (Andrew) — Thu, 02 Feb 2012 09:35:00 +0000

Those who cannot remember the past are condemned to repeat it. ~ George Santayana

We may never know where we’re going, but we’d better have a good idea where we are.

noreply@blogger.com (Andrew) — Thu, 02 Feb 2012 08:50:00 +0000

We may never know where we��re going, but we��d better have a good idea where we are.

Acknowledging the boundaries of what you can know — and working within those limits rather than venturing beyond — can give you a great advantage.

noreply@blogger.com (Andrew) — Thu, 02 Feb 2012 08:18:00 +0000

Acknowledging the boundaries of what you can know �X and working within those limits rather than venturing beyond �X can give you a great advantage.

It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so. ~ Mark Twain

noreply@blogger.com (Andrew) — Thu, 02 Feb 2012 08:10:00 +0000

It ain��t what you don��t know that gets you into trouble. It��s what you know for sure that just ain��t so. ~ Mark Twain

predicting the past is a snap.

noreply@blogger.com (Andrew) — Thu, 02 Feb 2012 01:57:00 +0000

predicting the past is a snap.

Awareness of the limited extent of our foreknowledge is an essential component of my approach to investing. ~ Howard Marks

noreply@blogger.com (Andrew) — Thu, 02 Feb 2012 00:11:00 +0000

Awareness of the limited extent of our foreknowledge is an essential component of my approach to investing. ~ Howard Marks

There are two kinds of people who lose money: those who know nothing and those who know everything. ~ Henry Kaufman

noreply@blogger.com (Andrew) — Thu, 02 Feb 2012 00:02:00 +0000

There are two kinds of people who lose money: those who know nothing and those who know everything. ~ Henry Kaufman

It’s frightening to think that you might not know something, but more frightening to think that, by and large, the world is run by people who have faith that they know exactly what’s going on.

noreply@blogger.com (Andrew) — Wed, 01 Feb 2012 23:59:00 +0000

It��s frightening to think that you might not know something, but more frightening to think that, by and large, the world is run by people who have faith that they know exactly what��s going on.

We have two classes of forecasters: Those who don’t know�Xand those who don’t know they don’t know. ~ John Kenneth Galbraith

noreply@blogger.com (Andrew) — Wed, 01 Feb 2012 23:44:00 +0000

We have two classes of forecasters: Those who don��t know�Xand those who don��t know they don��t know. ~ John Kenneth Galbraith

You simply cannot create investment opportunities when they�字e not there. The dumbest thing you can do is to insist on perpetuating high returns — and give back your profits in the process. If it’s not there, hoping won’t make it so.

noreply@blogger.com (Andrew) — Sun, 29 Jan 2012 11:30:00 +0000

You simply cannot create investment opportunities when they��re not there. The dumbest thing you can do is to insist on perpetuating high returns �X and give back your profits in the process. If it��s not there, hoping won��t make it so.

Oaktree has always been explicit about our belief that missing a profitable opportunity is of less significance than investing in a loser.

noreply@blogger.com (Andrew) — Fri, 27 Jan 2012 03:23:00 +0000

Oaktree has always been explicit about our belief that missing a profitable opportunity is of less significance than investing in a loser.

At any particular point in time, the investment environment is a given, and we have no alternative other than to accept it and invest within it.

noreply@blogger.com (Andrew) — Thu, 26 Jan 2012 16:24:00 +0000

At any particular point in time, the investment environment is a given, and we have no alternative other than to accept it and invest within it.

we don’t look for our investments; they find us.

noreply@blogger.com (Andrew) — Thu, 26 Jan 2012 16:22:00 +0000

we don��t look for our investments; they find us.

You tend to get better buys if you select from the list of things sellers are motivated to sell rather than start with a fixed notion as to what you want to own.

noreply@blogger.com (Andrew) — Thu, 26 Jan 2012 16:20:00 +0000

You tend to get better buys if you select from the list of things sellers are motivated to sell rather than start with a fixed notion as to what you want to own.

You’ll do better if you wait for investments to come to you rather than go chasing after them.

noreply@blogger.com (Andrew) — Thu, 26 Jan 2012 16:18:00 +0000

You��ll do better if you wait for investments to come to you rather than go chasing after them.

Words of Wisdom 智慧語錄 智慧语录

Sometimes the questions are complicated and the answers are simple.

If we avoid the losers, the winners will take care of themselves.

Being too far ahead of your time is indistinguishable from being wrong.

It’s our goal to do as well as the market when it does well and better than the market when it does poorly.

An investor needs do very few things right as long as he avoids big mistakes. ~ Warren Buffett

The cautious seldom err or write great poetry.

There are old investors, and there are bold investors, but there are no old bold investors.

The quality of a decision is not determined by the outcome. The events that transpire afterward make decisions successful or unsuccessful, and those events are often well beyond anticipating.

The things that happened are only a small subset of the things that could have happened. Thus, the fact that a stratagem or action worked— under the circumstances that unfolded— doesn�宇 necessarily prove the decision behind it was wise.

A great deal of the success of everything we do as investors will be heavily influenced by the roll of the dice.

Those who cannot remember the past are condemned to repeat it. ~ George Santayana

We may never know where we’re going, but we’d better have a good idea where we are.

Acknowledging the boundaries of what you can know — and working within those limits rather than venturing beyond — can give you a great advantage.

It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so. ~ Mark Twain

predicting the past is a snap.

Awareness of the limited extent of our foreknowledge is an essential component of my approach to investing. ~ Howard Marks

There are two kinds of people who lose money: those who know nothing and those who know everything. ~ Henry Kaufman

It’s frightening to think that you might not know something, but more frightening to think that, by and large, the world is run by people who have faith that they know exactly what’s going on.

We have two classes of forecasters: Those who don’t know�Xand those who don’t know they don’t know. ~ John Kenneth Galbraith

You simply cannot create investment opportunities when they�字e not there. The dumbest thing you can do is to insist on perpetuating high returns — and give back your profits in the process. If it’s not there, hoping won’t make it so.

Oaktree has always been explicit about our belief that missing a profitable opportunity is of less significance than investing in a loser.

At any particular point in time, the investment environment is a given, and we have no alternative other than to accept it and invest within it.

we don’t look for our investments; they find us.

You tend to get better buys if you select from the list of things sellers are motivated to sell rather than start with a fixed notion as to what you want to own.

You’ll do better if you wait for investments to come to you rather than go chasing after them.

Words of Wisdom 智慧語錄智慧语录