Cash Quote by Charlie Munger

To some extent, stocks are like Rembrandts. They sell based on what they've sold in the past. Bonds are much more rational. No-one thinks…

— Charlie Munger

It's quite clear that stocks are cheaper than bonds. I can't imagine anybody having bonds in their portfolio when they can own equities, a…

— Warren Buffett

The possibility that stock value in aggregate can become irrationally high is contrary to the hard-form "efficient market" theory that many of you once…

— Charlie Munger

The history of the past fifty years, and longer, indicates that a diversified holding of representative common stocks will prove more profitable over a…

— Benjamin Graham

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

— Walter Schloss

I have never believed that large-cap stocks are too well followed to be anything but efficiently priced.

— Whitney Tilson

If you can remember that stocks aren't pieces of paper that gyrate all the time --they are fractional interests in businesses -- it all…

— Seth Klarman

In an ideal world, the intelligent investor would hold stocks only when they are cheap and sell them when they become overpriced, then duck…

— Benjamin Graham

Most of the time common stocks are subject to irrational and excessive price fluctuations in both directions as the consequence of the ingrained tendency…

— Benjamin Graham

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

— Walter Schloss

“Conversely, as such a stock rises to, say, 50 or 60 or 70, the urge to sell and take a profit now that the…

— Philip A. Fisher

What makes stocks valuable in the long run isn't the market. It's the profitability of the shares in the companies you own. As corporate…

— Peter Lynch