Walter Schloss 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!

You never really know a stock until you own it.

If the stock goes down we want to buy more.

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

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

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

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

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

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

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

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

Try to buy assets at a discount than to buy earnings.

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

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

Don't sell on bad news.

Devise a simple strategy so you can sleep at night.

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

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.

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

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

You have to have patience in this field.

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

Book values have some good and some bad features.

Enjoy your work and have ethical standards.

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

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

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

Have patience. Stocks don't go up immediately.

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

Earnings can change dramatically. Usually assets change slowly.

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

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

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

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

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

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

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

Some kinds of stocks are easier to analyse than others.

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

Managements, you know, often think of themselves.

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

Look at companies selling at new lows.

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

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

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

I like the idea of company-paid dividends.

Try not to let your emotions affect your judgement.

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

Have a philosophy of investment and try to follow it.

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