--- title: "1 Old Investors Quotes By Howard Marks" description: "1 Old Investors quotes by Howard Marks. Plus more from Howard Marks and more Old Investors sayings from other authors." image: "https://sms4smile.com/quotes/i/ce0/howard-marks-18029_investing_there-are-old-investors-and-there-are-bo_932893.jpg" --- > [“There are old investors, and there are bold investors, but there are no old bold investors.”](https://sms4smile.com/quotes/howard-marks/there-are-old-investors-and-there-are-bold-investors-but-there-are-no/) [Howard Marks](https://sms4smile.com/quotes/author/howard-marks/) [Image](https://sms4smile.com/quotes/i/ce0/howard-marks-18029_investing_there-are-old-investors-and-there-are-bo_932893.jpg) ## More by Howard Marks > [“The process of intelligently building a portfolio consists of buying the best investments, making room for them by selling lesser ones, and staying clear…](https://sms4smile.com/quotes/howard-marks/the-process-of-intelligently-building-a-portfolio-consists-of-buying/) [Howard Marks](https://sms4smile.com/quotes/author/howard-marks/) > [“If one is approached with a deal predicated on cycles having ceased to occur, remember that invariably that’s a losing bet.”](https://sms4smile.com/quotes/howard-marks/if-one-is-approached-with-a-deal-predicated-on-cycles-having-ceased/) [Howard Marks](https://sms4smile.com/quotes/author/howard-marks/) > [“The last four and a half years have been carefree, halcyon times for investors. That doesn’t mean it’ll stay that way. I’ll give Warren…](https://sms4smile.com/quotes/howard-marks/the-last-four-and-a-half-years-have-been-carefree-halcyon-times-for/) [Howard Marks](https://sms4smile.com/quotes/author/howard-marks/) > [“•Scepticism and pessimism aren’t synonymous. Scepticism calls for pessimism when optimism is excessive. But it also calls for optimism when pessimism is excessive.”](https://sms4smile.com/quotes/howard-marks/scepticism-and-pessimism-aren-t-synonymous-scepticism-calls-for/) [Howard Marks](https://sms4smile.com/quotes/author/howard-marks/) > [“Risk arises as investor behaviour alters the market. Investors bid up assets, accelerating into the present appreciation that otherwise would have occurred in the…](https://sms4smile.com/quotes/howard-marks/risk-arises-as-investor-behaviour-alters-the-market-investors-bid-up/) [Howard Marks](https://sms4smile.com/quotes/author/howard-marks/) > [“Most people view risk taking primarily as a way to make money. Bearing higher risk generally produces higher returns...But it can’t always work that…](https://sms4smile.com/quotes/howard-marks/most-people-view-risk-taking-primarily-as-a-way-to-make-money-bearing/) [Howard Marks](https://sms4smile.com/quotes/author/howard-marks/) > [“HOWARD MARKS: Fear of looking wrong: Not only should the lonely and uncomfortable position be tolerated, it should be celebrated.”](https://sms4smile.com/quotes/howard-marks/howard-marks-fear-of-looking-wrong-not-only-should-the-lonely-and/) [Howard Marks](https://sms4smile.com/quotes/author/howard-marks/) > [“In good years, defensive investors have to be content with the knowledge that their gains, although perhaps less than maximal, were achieved with risk…](https://sms4smile.com/quotes/howard-marks/in-good-years-defensive-investors-have-to-be-content-with-the/) [Howard Marks](https://sms4smile.com/quotes/author/howard-marks/) > [“Everything you needed to know in the years leading up to the crash could be discerned through awareness of what was going on in…](https://sms4smile.com/quotes/howard-marks/everything-you-needed-to-know-in-the-years-leading-up-to-the-crash/) [Howard Marks](https://sms4smile.com/quotes/author/howard-marks/) > [“An accurate opinion on valuation, loosely held, will be of limited help. An incorrect opinion on valuation, strongly held, is far worse. This one…](https://sms4smile.com/quotes/howard-marks/an-accurate-opinion-on-valuation-loosely-held-will-be-of-limited-help/) [Howard Marks](https://sms4smile.com/quotes/author/howard-marks/) > [“There aren’t always great things to do, and sometimes we maximize our contribution by being discerning and relatively inactive. Patient opportunism – waiting for…](https://sms4smile.com/quotes/howard-marks/there-aren-t-always-great-things-to-do-and-sometimes-we-maximize-our/) [Howard Marks](https://sms4smile.com/quotes/author/howard-marks/) > [“Forgetfulness is the catalytic germ of spontaneous creativity”](https://sms4smile.com/quotes/howard-marks/forgetfulness-is-the-catalytic-germ-of-spontaneous-creativity/) [Howard marks](https://sms4smile.com/quotes/author/howard-marks/) > [“little known and not fully understood; fundamentally questionable on the surface; controversial, unseemly or scary; deemed inappropriate for “respectable” portfolios; unappreciated, unpopular and unloved;…](https://sms4smile.com/quotes/howard-marks/little-known-and-not-fully-understood-fundamentally-questionable-on/) [Howard Marks](https://sms4smile.com/quotes/author/howard-marks/) > [“Once in a while, however, the future turns out to be very different from the past. It’s at these times that accurate forecasts would…](https://sms4smile.com/quotes/howard-marks/once-in-a-while-however-the-future-turns-out-to-be-very-different/) [Howard Marks](https://sms4smile.com/quotes/author/howard-marks/) > [“If everyone likes it, it's probably because it has been doing well. Most people seem to think that outstanding performance to dates presages outstanding…](https://sms4smile.com/quotes/howard-marks/if-everyone-likes-it-it-s-probably-because-it-has-been-doing-well/) [Howard Marks](https://sms4smile.com/quotes/author/howard-marks/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "ItemList", "@id": "https://sms4smile.com/quotes/about/old-investors/howard-marks/#itemlist", "name": "1 Old Investors Quotes By Howard Marks", "numberOfItems": 1, "itemListElement": [ { "@type": "ListItem", "position": 1, "item": { "@type": "Quotation", "text": "“There are old investors, and there are bold investors, but there are no old bold investors.”", "creator": { "@type": "Person", "name": "Howard Marks" }, "url": "https://sms4smile.com/quotes/howard-marks/there-are-old-investors-and-there-are-bold-investors-but-there-are-no/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/ce0/howard-marks-18029_investing_there-are-old-investors-and-there-are-bo_932893.jpg", "contentUrl": "https://sms4smile.com/quotes/i/ce0/howard-marks-18029_investing_there-are-old-investors-and-there-are-bo_932893.jpg", "url": "https://sms4smile.com/quotes/i/ce0/howard-marks-18029_investing_there-are-old-investors-and-there-are-bo_932893.jpg", "width": 1080, "height": 1080, "caption": "“There are old investors, and there are bold investors, but there are no old bold investors.” — Howard Marks", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } } ] }, { "@type": "CollectionPage", "@id": "https://sms4smile.com/quotes/about/old-investors/howard-marks/#webpage", "url": "https://sms4smile.com/quotes/about/old-investors/howard-marks/", "name": "Old Investors Quotes by Howard Marks", "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "mainEntity": { "@id": "https://sms4smile.com/quotes/about/old-investors/howard-marks/#itemlist" }, "primaryImageOfPage": { "@id": "https://sms4smile.com/quotes/i/ce0/howard-marks-18029_investing_there-are-old-investors-and-there-are-bo_932893.jpg" }, "description": "1 Old Investors quotes by Howard Marks. 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