Quote

I think you have to learn that there's a company behind every stock, and that there's only one real reason why stocks go up. Companies go from doing poorly to doing well or small companies grow to large companies.

Today the financial market is no good, but the money is there.

Too many people overvalue what they are not and undervalue what they are.

You can do too much and oversell your market.

Tech stocks are trading at a 30-year-low when compared to the multiples of industrials (companies). It's the weirdest bubble when everyone hates everything.

Too many investors overvalue companies in the near term while undervaluing them in the long term.

Big money is made in the stock market by being on the right side of the major moves. The idea is to get in harmony with the market. It's suicidal to fight trends. They have a higher probability of continuing than not.

The market is incredibly inefficient and capable on rare occasions of being utterly dysfunctional. And people have a really hard time getting their brain around that fact. They want to believe that it's approximately efficient almost all the time, and it simply isn't true.

As a bull market continues, almost anything you buy goes up. It makes you feel that investing in stocks is a very easy and safe and that you're a financial genius.

If some stock categories get too hot-and-pricey, mass supply is created via stock offerings to tap that cheap money - and, when overdone, drives it all down.