"I just don't see anything available that..." - Quote by Warren Buffett
I just don't see anything available that gives any reasonable hope of delivering such a good year and I have no desire to grope around, hoping to 'get lucky' with other people's money. I am not attuned to this market environment, and I don't want to spoil a decent record by trying to play a game I don't understand just so I can go out a hero.
More by Warren Buffett
“Well, it may be all right in practice, but it will never work in theory”
“I asked him what he wanted to do for his career, and he replied that he wanted to go into a particular field, but thought he should work for McKinsey for a few years first to add to his resume. To me that's like saving sex for your old age. It makes no sense.”
“In the end we must have people to match our principles, not the reverse.”
More on Investing
“You don't need to be an expert in order to achieve satisfactory investment returns. But if you aren't, you must recognize your limitations and follow a course certain to work reasonably well. Keep things simple and don't swing for the fences.”
“Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.”
“The speed at which a business success is recognized, furthermore, is not that important as long as the company's intrinsic value is increasing at a satisfactory rate. In fact, delayed recognition can be an advantage: It may give us the chance to buy more of a good thing at a bargain price.”
More on Risk
“If the bubble reputation can be obtained only at the cannon's mouth, I am willing to go there for it, provided the cannon is empty.”
“There's an old saying that applies to me: you can't lose a game if you don't play the game. (Act 1, scene 4)”
“You want to know a sure way to lose money? Buy what's popular and don't know what you are investing in.”