The document contains quotes from various financial experts on value investing and financial planning. Charlie Munger notes that intelligent investing is acquiring assets for less than they are worth by properly valuing the business. Peter Lynch argues that normal people can pick stocks as well as experts if they use their brain. Seth Klarman discusses how the stock market reflects human overreactions and the need for fundamental analysis and long-term thinking in value investing. The quotes overall provide advice on avoiding forecasts, limiting risk, resisting crowds, having a margin of safety, and focusing on consistency over trying to appear intelligent in financial decisions.

1. www.dhannuvavetar.com
QUOTES TO BE CONSIDERED
WHILE FINANCIAL PLANNING
BY DHAN NU VAVETAR

2. “ ALL INTELLIGENT INVESTING IS
VALUE INVESTING- ACQUIRING
MORE THAN YOU ARE PAYING FOR.
YOU MUST VALUE THE BUSINESS IN
ORDER TO VALUE THE STOCK”
-CHARLIE MUNGER

3. “TWENTY YEARS IN THIS BUSINESS
CONVINCES ME THAT ANY NORMAL
PERSON USING THE CUSTOMARY
THREE PERCENT OF THE BRAIN CAN
PICL STOCKS JUST AS WELL,
IF NOT BETTER, THAN THE AVERAGE
WALL STREET EXPERTS”
--PETER LYNCH

4. “THE STOCK MARKET IS THE STORY
OF CYCLES AND OF THE HUMAN
BEHAVIOUR THAT IS
RESPONSIBLE FOR OVERREACTIONS
IN BOTH DIRECTIONS”
-SETH KLARMAN

5. “WHILE SOME MIGHT MISTAKENLY
CONSIDER VALUE INVESTING A
MECHANICAL TOOL FOR IDENTIFYING
BARGAINS, IT IS ACTUALLY A
COMPREHENSIVE INVESTMENT
PHILOSOPHY THAT EMPHASIZES THE
NEED TO PERFORM IN-DEPTH
FUNDAMENTAL ANALYSIS, PURSUE
LONG-TERM INVESTMENT RESULTS,
LIMIT RISK, AND RESIST CROWD
PSYCHOLOGY.”
-SETH KLARMAN

6. “WE IGNORE OUTLOOKS AND
FORECASTS… WE’RE LOUSY AT IT
AND WE ADMIT IT … EVERYONE
ELSE IS LOUSY TOO, BUT MOST
PEOPLE WON’T ADMIT IT.
-MARTIN WHITMAN

7. “IF INVESTING IS ENTERTAINING,
IF YOU’RE HAVING FUN, YOU’RE
PROBABLY NOT MAKING ANY
MONEY.
GOOD INVESTING IS BORING”
-GEORGE SOROS

8. “GENERALLY, THE GREATER THE
STIGMA OR REVULSION, THE
BETTER THE BARGAIN.”
-SETH KLARMAN

9. “THE UNDERLYING PRINCIPLES OF
SOUND INVESTMENT SHOULD NOT
ALTER FROM DECADE TO DECADE,
BUT THE APPLICATION OF THESE
PRINCIPLES MUST BE ADAPTED TO
SIGNIFICANT CHANGES IN THE
FINANCIAL MECHANISMS AND
CLIMATE.”
-BENJAMIN GRAHAM

10. “CONFRONTED WITH A CHALLENGE
TO DISTILL THE SECRET OF SOUND
INVESTMENT INTO THREE WORDS,
WE VENTURE THE MOTTO, MARGIN
OF SAFETY.”
-BENJAMINGRAHAM

11. “IT IS REMARKABLE HOW MUCH
LONG-TERM ADVANTAGE PEOPLE
LIKE US HAVE GOTTEN BY TRYING
TO BE CONSISTENTLY NOT STUPID,
INSTEAD OF TRYING TO BE VERY
INTELLIGENT.”
-CHARLIE MUNGER

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