Wit and Wisdom From The World’s Greatest Self-Directed IRA Investors
Every once in a while, we like to have a bit of fun. And as investment history nerds, one of our favorite sources of fun is reading up on the legacy of wit and wisdom of the world’s greatest investors.
We picked these out specifically because they’ll be of interest to those attracted to Self-Directed IRA investing.
That is, we looked for ideas that would speak to many of our investors and clients who aren’t afraid of calculated risk, who are willing to take concentrated positions in their best ideas, who understand real estate investing and who own Real Estate IRAs or invest in real estate outside of their retirement plans.
- “Fear and greed tend to affect one’s judgment” – Walter Schloss
- “Risk comes from not knowing what you are doing.” –Warren Buffett
- “Sometimes your best investments are the ones you don’t make.” –Donald Trump
- “Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.” Proverbs 13:11
- “An investment in knowledge pays the best interest.” — Benjamin Franklin
- “Golf courses sell real estate and that’s why they’re built.” –Ed McMahon
- “Invest your linear income so you can earn exponential income.” – Bo Sanchez, on compounding.
- “If you want to succeed you should strike out on new paths, rather than travel the worn paths of accepted success.” –John D. Rockefeller
- “Go for a business that any idiot can run – because sooner or later, any idiot probably is going to run it. – Peter Lynch, former manager of the Fidelity Magellan Fund
- “I don’t want a lot of good investments; I want a few outstanding ones.” –John Neff
- Buying a company without having sufficient knowledge of it may be even more dangerous than having inadequate diversification. –Philip Fisher
- “How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” –Robert G. Allen
- “The four most dangerous words in investing are, ‘this time it’s different.’” – John Templeton.
- “Generally, the greater the stigma or revulsion, the better the bargain.” –Seth Klarman
- “Confronted with a challenge to distill the secret of sound investment into three words, we venture the motto, Margin of Safety.” – Benjamin Graham
- “If investing is entertaining, if you’re having fun, you’re probably not making any money. Good investing is boring.” – George Soros
- “Some people are extraordinarily good at knowing the limits of their knowledge, because they have to be. Think of somebody who’s been a professional tightrope walker for 20 years – and has survived. He couldn’t survive as a tightrope walker for 20 years unless he knows exactly what he knows and what he doesn’t know. He’s worked so hard at it, because he knows if he gets it wrong he won’t survive. The survivors know. Knowing what you don’t know is more useful than being brilliant.” — Charlie Munger
- “The secret to investing is to figure out the value of something – and then pay a lot less.” –Joel Greenblatt
- “Markets can remain irrational longer than you can remain solvent.” –John Maynard Keynes
- “Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, managed with reasonable care, it is about the safest investment in the world.” –Franklin D. Roosevelt
- “I’d be a bum on the street with a tin cup if markets were efficient!” –Warren Buffett
- “According to economic theory, it only makes sense to pay dividends if a company can’t figure out anything better to do with its cash.” –Carolyn Hill
[tweetthis twitter_handles=”@iraexpert” hidden_hashtags=”#SelfDirectedIRA #RealEstateIRA”]They’ll be of interest-those attracted to Self-Directed IRA investing[/tweetthis]
American IRA, LLC, with offices in Charlotte and Asheville, North Carolina, works with successful investors from coast to coast who want to take more direct, personal control of their retirement assets. Visit us online at www.americanira.com, or call us at 866-7500-IRA (472). We look forward to serving you.
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