Schloss Quotes

#1. Have a philosophy of investment and try to follow it.

Walter Schloss

#2. Devise a simple strategy so you can sleep at night.

Walter Schloss

#3. I like the idea of company-paid dividends.

Walter Schloss

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

Walter Schloss

#5. Each year we buy stocks and they go up, we sell them and then we try to buy something cheaper.

Walter Schloss

#6. Earnings can change dramatically. Usually assets change slowly.

Walter Schloss

#7. You never really know a stock until you own it.

Walter Schloss

#8. If the stock goes down we want to buy more.

Walter Schloss

#9. We like to buy stocks which we feel are undervalued and then we have to have the guts to buy more when they go down.

Walter Schloss

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

Walter Schloss

#11. Enjoy your work and have ethical standards.

Walter Schloss

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

Walter Schloss

#13. You have to have patience in this field.

Walter Schloss

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

Walter Schloss

#15. Before selling, try to re-evaluate the company again and see where the stock sells in realtion to its book value.

Walter Schloss

#16. Buy stocks where the outlook is not good.

Walter Schloss

#17. Fear and greed are probably the worst emotions to have in connection with the purchase and sale of stocks.

Walter Schloss

#18. We do not spend a great deal of time talking to management.

Walter Schloss

#19. I found that it was much better to look at the figures rather than people.

Walter Schloss

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

Walter Schloss

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

Walter Schloss

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

Walter Schloss

#23. By setting up Berkshire Hathaway, Warren has done everything very rationally.

Walter Schloss

#24. You know, people tend to like to buy companies that are doing well.

Walter Schloss

#25. Be careful of leverage. It can go against you.

Walter Schloss

#26. Don't sell on bad news.

Walter Schloss

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

Walter Schloss

#28. I tried to follow Ben Graham's ideas.

Walter Schloss

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

Walter Schloss

#30. Book values have some good and some bad features.

Walter Schloss

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

Walter Schloss

#32. My job was to find stocks that were undervalued.

Walter Schloss

#33. Be aware of the level of the stock market. Are yields low and PE ratios high?

Walter Schloss

#34. We may buy a little bit of a stock, to get our feet wet and get a feeling for it.

Walter Schloss

#35. When it comes to investing, my suggestion is to first understand your strengths and weaknesses, and then devise a simple strategy so that you can sleep at night!

Walter Schloss

#36. Graham liked the idea of protection on the downside.

Walter Schloss

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

Walter Schloss

#38. Some kinds of stocks are easier to analyse than others.

Walter Schloss

#39. We basically followed the idea of buying comapnies selling below working-capital - at two thirds of working-capital.

Walter Schloss

#40. This is a business. Like any other business.

Walter Schloss

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

Walter Schloss

#42. Timidity prompted by past failures causes investors to miss the most important bull markets.

Walter Schloss

#43. Try to establish the value of a company.

Walter Schloss

#44. Fear and greed tend to affect one's judgement.

Walter Schloss

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

Walter Schloss

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

Walter Schloss

#47. 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.

Walter Schloss

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

Walter Schloss

#49. If there are not too many value stocks that I can find, the market isn't all that cheap.

Walter Schloss

#50. One has to know more about a company if one buys earnings.

Walter Schloss

#51. Have the courage of your convictions once you have made a decision.

Walter Schloss

#52. Try to look for weaknesses in your thinking.

Walter Schloss

#53. I liked the results of the profits in the markets.

Walter Schloss

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

Walter Schloss

#55. In Styria, we, though by no means magnificent people, inhabit a castle, or schloss.

J. Sheridan Le Fanu

#56. Don't be afraid to be a loner but be sure that you are correct in your judgement.

Walter Schloss

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

Walter Schloss

#58. Ben was really a contrarian but he didn't use those terms because he was really buying value.

Walter Schloss

#59. Managements, you know, often think of themselves.

Walter Schloss

#60. Sell is tough. It's the worst, it's the most difficult thing of all.

Walter Schloss

#61. Try to buy assets at a discount than to buy earnings.

Walter Schloss

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

Walter Schloss

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

Walter Schloss

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

Walter Schloss

#65. I don't have a ticker-tape machine in my office.

Walter Schloss

#66. Try not to let your emotions affect your judgement.

Walter Schloss

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

Walter Schloss

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

Walter Schloss

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

Walter Schloss

#70. You have to invest the way that's comfortable for you.

Walter Schloss

#71. I helped Ben with the third edition of Security Analysis, published in 1951.

Walter Schloss