Asset management is all about long-term wealth creation. Take a page from the book of successful investors. Here are 23 motivational quotations to help you decide what to do when you're ready to invest.
Don’t be a follower -Warren Buffet
Buffett is largely regarded as the greatest successful investor of the twentieth century, and the Berkshire Hathaway CEO is famous for saying things like this. It may sound paradoxical to let fear dictate your financial choices, but what he's actually saying is to pay attention to the market and be wary of what the herd is doing.
Don’t forget to do your homework – Peter Lynch
If you don't research any firms, you'll have the same success purchasing stocks as if you gambled without looking at your cards in a poker game.
Lynch, dubbed a legend in the finance world, is a guy who understands how to make a good investment. He expanded Fidelity's Magellan Fund's holdings from $18 million to $14 billion as its head, which is no minor achievement. The concept that you should constantly invest in what you know and take the time to learn about what you don't is the major motivator behind his success.
Successive investors do not try to be safe – Robert G. Allen
Making money is the goal of investing and doing so is difficult if you're hesitant to step off the beaten road. Allen, a wealthy businessman who also served briefly in the United States House of Representatives, was not afraid to take risks. The basic line is that if you want to grow wealth, you can't afford to put all of your money in low-interest savings accounts. You will have to take some risk in order to earn money (only you can decide how much you can tolerate). After all, there is no profit if there is no risk.
Believe in your instincts – Jim Cramer
Cramer is your go-to man for financial advice delivered with a lot of personality and no sugar coating. The presenter of Mad Money isn't afraid to point out the market's flaws, and he doesn't recommend following unfavorable trends. This involves resisting the urge to panic when it seems that everyone else is. Don't be tempted to purchase anything if your instinct tells you it's a terrible investment.
Be on the lookout for hidden gems – John Neff
During his time as the head of Vanguard's Windsor Fund, Neff developed a reputation as a shrewd fund manager. One of the reasons his investments have done so well is because he is comfortable going against the grain and picking assets with untapped potential. Essentially, what he's saying is that you shouldn't be hesitant to take a risk on the underdog.
Don’t confuse price with value – Phillip Fisher
Fisher is regarded as the ideal long-term investor, owing to his purchase of Motorola stock in the 1950s. Until his death in 2004, he clung to it. Be prepared to go beyond the price to determine what a stock is really worth if you're buying for the long run. Finally, a company's organizational structure and operating principles are a greater predictor of its future performance.
Go forward by looking back – Sir John Templeton
The stock market runs in cycles, and Templeton was well-versed in how these tendencies shift. As a mutual fund investor, he became a millionaire by looking at how equities had fared in the past rather than speculating on the future. Even if you aren't a billionaire (yet), you may follow Sir John's lead by selecting assets based on their historical performance rather than what experts forecast.
Be selective – Warren Buffet
It's not for nothing that he's known as the "Oracle of Omaha." Despite the fact that Buffett has previously been on our list, we couldn't pass up this nugget. It's tempting to spread your money about in numerous different assets when you're first starting out as an investor to discover what works and what doesn't. However, after you've gotten the hang of it, you may (and should) cut down your portfolio to just those assets that correspond to your objectives.
Know your limits – John Bogle
Bogle, the founder and former CEO of The Vanguard Group, is a firm believer in employing common sense when it comes to investing. That involves determining if stock or fund trading is appropriate for you in the first place. You may not be cut out to be a serious investor if you can't bear the prospect of losing money in the market.
Follow your instructions – John Maynard Keynes
Keynes is most known for his economic policy ideas, which enjoyed a rise in popularity during the financial crisis of 2009. He understood a thing or two about investment in addition to economics. What is his core success formula? Choose firms that you are familiar with and whose goal you support.
I don’t think you have to do it by yourself – Bill Gross
Companies like E Trade and Scottrade make it simple to get your feet wet in the market, but if you want personalized financial guidance, a full-service brokerage may be the way to go. According to bond fund manager Gross, you set the tone for your long-term attitude as an investor when you determine who may handle your money.
Moving beyond mediocre requires effort – Benjamin Graham
Graham is widely regarded as the "Father of Value Investing," a method that emphasizes stock selection that is persistently undervalued. He had a direct impact on other great investors like Warren Buffett because he understood the difference between investing and investing successfully. Making money in the stock market isn't tough, but if you want to reach the top rung of success, you can't settle for "good enough" outcomes.
Always follow these quotes and you will be able to become successful with wealth management.
