Conseils boursiers buffet : citationsConseils boursiers Buffet :
Warren Buffet, ne se contente pas dêtre un investisseur exceptionnel, il fait également preuve de beaucoup dhumour et desprit.
En effet, ses nombreuses citations sur la bourse et sur linvestissement sont des sources dinspirations pour ceux qui souhaitent réaliser de meilleurs placements boursiers, ses remarques sont fondées sur le bon sens et sur lexpérience. Voici un recueil de quelques unes de ses citations sur la bourse:
"You only find out who is swimming naked when the tide goes out."
Conseils boursiers Buffet : Le comportement moutonnier des investisseurs et la spéculation boursière
A story that was passed down from Ben Graham illustrates the lemminglike behavior of the crowd: "Let me tell you the story of the oil prospector who met St. Peter at the Pearly Gates. When told his occupation, St. Peter said, Oh, Im really sorry. You seem to meet all the tests to get into heaven. But weve got a terrible problem. See that pen over there? Thats where we keep the oil prospectors waiting to get into heaven. And its filledwe havent got room for even one more. The oil prospector thought for a minute and said, Would you mind if I just said four words to those folks? I cant see any harm in that, said St. Pete. So the old-timer cupped his hands and yelled out, Oil discovered in hell! Immediately, the oil prospectors wrenched the lock off the door of the pen and out they flew, flapping their wings as hard as they could for the lower regions. You know, thats a pretty good trick, St. Pete said. Move in. The place is yours. Youve got plenty of room. The old fellow scratched his head and said, No. If you dont mind, I think Ill go along with the rest of em. There may be some truth to that rumor after all."
Conseils boursiers Buffet : Quand investir en bourse ?
"Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can't buy what is popular and do well."
"For some reason, people take their cues from price action rather than from values. What doesnt work is when you start doing things that you don't understand or because they worked last week for somebody else. The dumbest reason in the world to buy a stock is because it's going up. "
Conseils boursiers Buffet : Limportance de ne pas investir dans des sociétés peu performantes
On acquiring bad companies for cheap prices: "In my early days as a manager I, too, dated a few toads. They were cheap dates - I've never been much of a sport - but my results matched those of acquirers who courted higher-price toads. I kissed and they croaked."
"When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is usually the reputation of the business that remains intact."
Conseils boursiers Buffet : La nécessité davoir une marge de sécurité dans les investissements boursiers
"I like to go for cinches. I like to shoot fish in a barrel. But I like to do it after the water has run out."- Oct. 2003 talking with Wharton MBA students
Les prévisions erronées des analystes financiers
"We've long felt that the only value of stock forecasters is to make fortune tellers look good. Even now, Charlie and I continue to believe that short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children."
"Ive reluctantly discarded the notion of my continuing to manage the portfolio after my death abandoning my hope to give new meaning to the term 'thinking outside the box.'"
At the bottom of the bear market in October 1974 a Forbes article interviewed Buffett. Buffett, for the first time in his life, made public prediction about the stock market."How do you feel? Forbes asked."Like an oversexed guy in a whorehouse. Now is the time to invest and get rich."
Conseils boursiers Buffet : Limportance de ne pas suivre le marché boursier
"Success in investing doesn't correlate with I.Q. once you're above the level of 25. Once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing." - BusinessWeek Interview June 25 1999
"We don't get paid for activity, just for being right. As to how long we'll wait, we'll wait indefinitely." - 1998 Berkshire Hathaway Annual Meeting
"One of the ironies of the stock market is the emphasis on activity. Brokers, using terms such as `marketability' and `liquidity," sing the praises of companies with high share turnover... but investors should understand that what is good for the croupier is not good for the customer. A hyperactive stock market is the pick pocket of enterprise."
La valorisation des titres
Price is what you pay. Value is what you get."
La théorie moderne des marchés financiers :
"Ben's Mr. Market allegory may seem out-of-date in today's investment world, in which most professionals and academicians talk of efficient markets, dynamic hedging and betas. Their interest in such matters is understandable, since techniques shrouded in mystery clearly have value to the purveyor of investment advice. After all, what witch doctor has ever achieved fame and fortune by simply advising 'Take two aspirins'?"- 1987 Chairman's Letter to Shareholders
Conseils boursiers Buffet : Diversification du portefeuille boursier
"Diversification is a protection against ignorance. It makes very little sense for those who know what they're doing.
" If its your game, diversification doesnt make sense. Its crazy to put money into your 20th choice rather than your 1st choice. Lebron James analogy. If you have Lebron James on your team, dont take him out of the game just to make room for someone else. If you have a harem of 40 women, you never really get to know any of them well.
Le pouvoir de largent, Warren étant devenu en 2008 lhomme le plus riche du monde
If I wanted to do something wild & crazy I could do it, but Anna Nicole Smith is gone. Reminds me of the story of the 60 year old man that got a 25 year old to marry him. When his friends asked how he did it, he replied, I told her I was 90.
Réputation, intégrité du management
"It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently."
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