Quotes from Common Stocks and Uncommon Profits and Other Writings

“Such a study indicates that the greatest investment reward comes to those who by good luck or good sense find the occasional company that over the years can grow in sales and profits far more than industry as a whole. It further shows that when we believe we have found such a company we had better stick with it for a long period of time. It gives us a strong hint that such companies need not necessarily be young and small. Instead, regardless of size, what really counts is a management having both a determination to attain further important growth and an ability to bring its plans to completion.”
― quote from Common Stocks and Uncommon Profits and Other Writings

“Even in those earlier times, finding the really outstanding companies and staying with them through all the fluctuations of a gyrating market proved far more profitable to far more people than did the more colorful practice of trying to buy them cheap and sell them dear.”
― quote from Common Stocks and Uncommon Profits and Other Writings

“Most frequently given of such reasons is the conviction that a general stock market decline of some proportion is somewhere in the offing. In the preceding chapter I tried to show that postponing an attractive purchase because of fear of what the general market might do will, over the years, prove very costly. This is because the investor is ignoring a powerful influence about which he has positive knowledge through fear of a less powerful force about which, in the present state of human knowledge, he and everyone else is largely guessing.”
― quote from Common Stocks and Uncommon Profits and Other Writings

“In a new plant for even established processes or products, there will probably be a shake-down period of six to eight weeks that will prove rather expensive. It takes this long to get the equipment adjusted to the required operating efficiency and to weed out the inevitable "bugs" that seem to occur in breaking in modern intricate machinery.”
― quote from Common Stocks and Uncommon Profits and Other Writings

“But his very best questions always popped out of his mind, unprepared, never having been written down in advance because they were the angle he picked up on the fly, as he heard an answer to a lesser question. Those creative questions were the art. It is what, in my mind, made his querying great.”
― quote from Common Stocks and Uncommon Profits and Other Writings

“One, which I mention several times elsewhere, is the need for patience if big profits are to be made from investment. Put another way, it is often easier to tell what will happen to the price of a stock than how much time will elapse before it happens. The other is the inherently deceptive nature of the stock market. Doing what everybody else is doing at the moment, and therefore what you have an almost irresistible urge to do, is often the wrong thing to do at all.”
― quote from Common Stocks and Uncommon Profits and Other Writings

“Fighting unemployment by methods far more costly than the opening of bread lines and soup kitchens would not have been given serious consideration, regardless of which party might have been in office. Since 1932 all that is reversed. The Democrats may or may not be less concerned with a balanced federal budget than the Republicans. However, from President Eisenhower on down, with the possible exception of former Secretary of the Treasury Humphrey, the responsible Republican leadership has said again and again that if business should really turn down they would not hesitate to lower taxes or make whatever other deficit-producing moves were necessary to restore prosperity and eliminate unemployment. This is a far cry from the doctrines that prevailed prior to the big depression.”
― quote from Common Stocks and Uncommon Profits and Other Writings

Popular quotes

“People use democracy as a free-floating abstraction disconnected from reality. Democracy in and of itself is not necessarily good. Gang rape, after all, is democracy in action.

All men have the right to live their own life. Democracy must be rooted in a rational philosophy that first and foremost recognizes the right of an individual. A few million Imperial Order men screaming for the lives of a much smaller number of people in the New World may win a democratic vote, but it does not give them the right to those lives, or make their calls for such killing right.

Democracy is not a synonym for justice or for freedom. Democracy is not a sacred right sanctifying mob rule. Democracy is a principle that is subordinate to the inalienable rights of the individual.”
― Terry Goodkind, quote from Naked Empire

“the many hours Amy and I spent there, she sitting on the bank reading from a book of poems or some dreary political stuff, me with my skirt off and my drawers rolled up, wading in the water. Me turning over stones to see what was under them, she begging me not to eat what I found. The scavenging orphan in me does die hard, I must admit, and I know that sometimes I am a scandal to other, more well-bred people—in this and other ways. “All”
― L.A. Meyer, quote from In the Belly of the Bloodhound: Being an Account of a Particularly Peculiar Adventure in the Life of Jacky Faber

“and rain will fall on our eaves.”
― Jack Kerouac, quote from The Subterraneans

“Anything is one of a million paths. Therefore you must always keep in mind that a path is only a path; if you feel you should not follow it, you must not stay with it under any conditions. To have such clarity you must lead a disciplined life. Only then will you know that any path is only a path and there is no affront, to oneself or to others, in dropping it if that is what your heart tells you to do. But your decision to keep on the path or to leave it must be free of fear or ambition. I warn you. Look at every path closely and deliberately. Try it as many times as you think necessary.

This question is one that only a very old man asks. Does this path have a heart? All paths are the same: they lead nowhere. They are paths going through the bush, or into the bush. In my own life I could say I have traversed long long paths, but I am not anywhere. Does this path have a heart? If it does, the path is good; if it doesn't, it is of no use. Both paths lead nowhere; but one has a heart, the other doesn't. One makes for a joyful journey; as long as you follow it, you are one with it. The other will make you curse your life. One makes you strong; the other weakens you.


Before you embark on any path ask the question: Does this path have a heart? If the answer is no, you will know it, and then you must choose another path. The trouble is nobody asks the question; and when a man finally realizes that he has taken a path without a heart, the path is ready to kill him. At that point very few men can stop to deliberate, and leave the path. A path without a heart is never enjoyable. You have to work hard even to take it. On the other hand, a path with heart is easy; it does not make you work at liking it.”
― Carlos Castaneda, quote from The Teachings of Don Juan: A Yaqui Way of Knowledge

“The warmth was pushed aside, as always, by the cold grip of reality.”
― Julie Lessman, quote from A Passion Most Pure

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