“A very important principle in investing is you don’t have to make it back the way you lost it. And in fact, it’s usually a mistake to try and make it back the way that you lost it.” – Warren Buffett
“Which is worse, buying at the top or selling at the bottom? For me the answer is easy: the latter. If you buy at what turns out to have been a market top, you’ll suffer a downward fluctuation. But that isn’t cause for concern if the long-term thesis remains intact. And anyway, the enxt top is usually higher than the last top, meaning you’re likely to be ahead eventually. But if you sell at a market bottom, you render the downward fluctuation permanent, and, even more importantly, you get off the escalator of a rising economy and rising markets that has made so many long-term investors rich. This is why I describe selling at the bottom as the cardinal sin in investing.” – Howard Marks
“Sometimes it is best to simply say “I don’t know exactly what is going to happen, but I think X strategy has a high probability of working. I’m going to put skin-in-the-game and allocate capital according to X strategy. If I see data points Y and Z change, then I will re-evaluate my perspective.” – Pomp
“Time is the coin of your life. It is the only coin you have, and only you can determine how it will be spent. Be careful lest you let other people spend it for you.” – Carl Sandburg
“To repeat, while such an index-driven strategy may not be the best investment strategy ever devised, the number of investment strategies that are worse is infinite.”-John Bogle
“Know when to sell. Ideally, the time to sell is…almost never. But there’re 3 instances where we might need to sell: 1) our analysis is wrong 2) prospects of business have deteriorated 3) There’s a better opportunity” – Thomas Chua (Twiiter post)
“Throughout all my years of investing, I’ve found that the big money was never made in the buying or selling, the big money was made in the waiting.” -Jessie Livermore
