Behavioral Investing Resource Center

Wisdom of Great Investors

Successful investors throughout history have understood that building long-term wealth requires the ability to control emotions and avoid self-destructive behavior.

1. Be Patient and Think Long-Term
   • “The stock market is a device to transfer money from the ‘impatient’ to the ‘patient’.” - Warren Buffett, Chairman, Berkshire Hathaway
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2. Keep Your Emotions in Check
   • “A lot of people with high IQs are terrible investors because they’ve got terrible temperaments. You need to keep raw irrational emotion under control.”- Charlie Munger, Vice-Chairman, Berkshire Hathaway
     
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3. Disregard Short-Term Forecasts
   • “The function of economic forecasting is to make astrology look respectable.” - John Kenneth Galbraith, Economist and Author
     
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4. Make a Habit of Investing Regularly
   • “Systematic investing will pay off ultimately, provided that it is adhered to conscientiously and courageously under all market conditions.” - Ben Graham, Father of Value Investing
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5. Don't Try to Time the Market
   • “Far more money has been lost by investors trying to anticipate corrections, than lost in the corrections themselves.” - Peter Lynch, Legendary Investor and Author The Power of Equities
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6. The Power of Equities
   • “History has shown that equities are the best way to build long-term wealth.” -  Shelby M.C. Davis, Legendary Investor
     
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7. Markets Fluctuate.  Stay the Course.
   • “Individuals who cannot master their emotions are ill-suited to profit from the investment process.” - Ben Graham, Father of Value Investing
     
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8. A Market Correction is an Opportunity
   • “A market downturn doesn’t bother us. It is an opportunity to increase our ownership of great companies with great management at good prices.” - Warren Buffett, Chairman, Berkshire Hathaway
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9. Equities Have Built Wealth Despite Crises
   • History provides crucial insight regarding market crises: they are inevitable, painful and ultimately surmountable.” - Shelby M.C. Davis, Legendary Investor
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