I wanted to be a 150% entrepreneur and a 150% mom, and I found that I was having a very hard time doing both. I was about 75% and 75% - still better than 100%, but not what I was accustomed to at work.
Barbara CorcoranRead
Everybody thinks that they're going to time the market, they're going to sharpshoot the market, and buy right at the bottom. The truth of the matter is that nobody is good at it.
Interpretation
Market timing is a challenging endeavor that most people fail at.
This quote emphasizes the common misconception that individuals can effectively time their investments by predicting market movements, particularly by buying at the lowest point. Barbara Corcoran points out the reality that very few people possess the skill or insight to consistently achieve such timing, highlighting the unpredictability and complexity of the market.
In practice
During a financial seminar discussing investment strategies.
I wanted to be a 150% entrepreneur and a 150% mom, and I found that I was having a very hard time doing both. I was about 75% and 75% - still better than 100%, but not what I was accustomed to at work.
Buy with your heart, not your head. You can look at all the aspects that make a purchase practical, but that kind of thinking makes it an investment rather than a home.
My husband had a very strong identity and was successful in his life. Thank God for that. There's no way I can control him. I wouldn't stay married to him if I felt I could. I can readily take my business personality into the home. But he forces me to be a partner rather than the boss.
The biggest challenge in business is not the competition, it's what goes on inside your own head
I have a theory and I really believe it. I think your worst weakness can become your greatest single strength.
My greatest strength as a child, I realize now, was my imagination. While every other kid was reading and writing, I had seven whole hours a day to practice my imagination. When do you get that space in your life, ever?
There are all kinds of businesses that Charlie and I don't understand, but that doesn't cause us to stay up at night. It just means we go on to the next one, and that's what the individual investor should do.
Read Ben Graham and Phil Fisher read annual reports, but don't do equations with Greek letters in them.
Investing is the intersection of economics and psychology.
Just because you buy a stock and it goes up does not mean you are right. Just because you buy a stock and it goes down does not mean you are wrong.
Investors should remember that their scorecard is not computed using Olympic-diving methods: Degree-of-difficulty doesn't count. If you are right about a business whose value is largely dependent on a single key factor that is both easy to understand and enduring, the payoff is the same as if you had correctly analyzed an investment alternative characterized by many constantly shifting and complex variables.
My favorite time frame for holding a stock is forever.
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