Walter Schloss Quotes

Basically, we try to buy value expressed in the differential between its price and what we think its worth.

When you buy a depressed company it's not going to go up right after you buy it, believe me.

Remember that a share of stock represents a part of a business and is not just a piece of paper.

Ben was a very simple straightforward man with a brilliant quick mind.

You have to have confidence in what you're doing.

If the market is so cheap, you want to get something with a little more zip in it, or potential.

Our average holding period is four years.

People don't like to buy things that are going down.

Making a decision to sell is the most difficult thing we do.

Ben was a great believer in buying a diversified group of securities, so that he limited his risk.

Have a philosophy of investment and try to follow it.

I was in Graham's office the day he bought GEICO. Warren owns one-third of the stock today.

Most look at earnings and earnings potential, well I can't get into that game.

Try to look for weaknesses in your thinking.

I tried to follow Ben Graham's ideas.

I find it helpful to buy near the low of the last few years.

Don't sell on bad news.

Graham liked the idea of protection on the downside.

My job was to find stocks that were undervalued.

Have patience. Stocks don't go up immediately.

We get a feeling, if we can, about what we think the company is worth.

Be sure that debt does not exceed 100% of the equity.

Don't be in too much of a hurry to sell.

I have been around a long time and Wall Street has changed a lot.

A lot of companies have lots of assets tied up in plant and equipment. Well, is it old plant, or is it new plant?

If you are honest, hardworking, reasonably intelligent and have good common sense, you can do well in the investment field as long as you are not too greedy and don't get too emotional when things go against you.

The market is a very emotional place that appeals to fear and greed.

If the market were way over priced, I wouldn't own any stocks.

Enjoy your work and have ethical standards.

Look for companies that do not have a lot of debt.

Warren is a very good judge of people and he's a very good judge of businesses.

Yes, Warren has done very well.

Don't buy on tips or for a quick move.

Use book value as a starting point to try and establish the value of the enterprise.

When I buy a stock, I have kind of an idea where I want to sell it.

Price is the most important factor to use in relation to value.

Ben didn't want to lose money. He had had a rough time during the depression.

Make sure you have the courage to stay true to your convictions and not let the market affect your emotions.

Book values have some good and some bad features.

You never get the high and you never get the low.

Be careful of leverage. It can go against you.