John Neff Quotes
101 John Neff Quotes (1931-present) (Vanguard Windsor Quotes)
1 2 3
You can line up more experts than you can shake a stick at, but none can predict with certainty what investors really want to know: How will the market do tomorrow, or next week, or next year?
John Neff
Obsession with broad diversification is the sure road to mediocrity.
John Neff
Being out of fashion ultimately enhances opportunities on the other side.
John Neff
Most investors feared for Citibank in May 1991… After weighing Citi’s situation carefully, we decided this was a good time to buy.
John Neff
Investment success does not require glamour stocks or bull markets.
John Neff
Loose lips sink ships.
John Neff
Most investors are great at extending straight lines… that culminate in disappointment when enthusiasm wanes.
John Neff
If you buy stocks when they are out of favor and unloved, and sell them into strength when other investors recognize their merits, you’ll often go home with handsome gains.
John Neff
Conventional wisdom and preconceived notions are stumbling blocks as well as signs of opportunity.
John Neff
Conventional wisdom suggests that, for investors, more information these days is a blessing and more competition is a curse. I’d say the opposite is true. Coping with so much information runs the risk of distracting attention from the few variables that really matter.
John Neff
Frenzies end, fundamentals prevail, and every tub sits on its own bottom.
On the other side of inflection points, frenzies end, fundamentals prevail, and every tub sits on its own bottom.
John Neff
Never say ‘never’ in the wonderful world of stock market fluctuations.
John Neff
We were determined, as always, to keep our heads while others seemed intent on losing theirs.
John Neff
An early Greek philosopher, Heraclitus, observed that a person cannot step twice in the same river, because the river changes constantly. Nor, in the same sense, can an investor step twice in the same market, because the market changes constantly.
John Neff
The market’s personality. It is irrational and unsentimental. It is cantankerous and hostile. At times, it is forgiving and congenial.
John Neff
My kind of investing rests on three elements: character, goals, and experience.
John Neff
When better to write a book about out-of-favor investing than when it’s out of favor?
John Neff
To us, ugly stocks were often beautiful.
John Neff
Woebegone regions have always lured me…
John Neff
Despite their solid earnings, they are rejected and ignored by investors caught in the clutch of groupthink.
John Neff
We… left ‘greater fool’ investing to others.
John Neff
The stocks Windsor bought usually had had the stuffing beaten out of them.
John Neff
The investment process must begin somewhere. In my case, all ladders start in the dusty rag and bone shop of the mart, where the supply of cheap stocks replenishes itself daily.
John Neff
Long-term investment strategies need not rest on a few very risky glamour stocks.
John Neff
Don’t make fundamental mistakes…
John Neff
There is a thin line between being a contrarian and being just plain stubborn.
John Neff
Obsession with broad diversification is the sure road to mediocrity. Most people who own more than two mutual funds are over-diversified.
John Neff
Over the years, both good and bad, I basked in the warmth of constant encouragement and support from Jack Bogle, Jack Brennan, and other Vanguard directors. Despite the occasional rough patches we suffered, I never had the feeling that I didn’t have the confidence of this outstanding group of individuals.
John Neff
[On some fund managers focusing purely on how much particular stocks could go up] What about risk?
John Neff
In the spring of 1998, I taught a graduate seminar on investing at the Wharton School in Philadelphia. A very lively group of students sparked extensive reflection on my part.
John Neff
Teaching invited many questions about my own learning curve.
John Neff
I joined the U.S. Navy and studied aviation electronics before I dreamed of trading stocks, much less managing the largest equity mutual fund in the United States – the status Windsor held until the doors were closed to new shareholders in 1985.
John Neff
I was always a stubborn little fellow, which my mother expressed very succinctly: ‘John Brown,’ she declared, ‘You would argue with a signpost.’ She was not only right, she was prescient. My whole career, I have argued with the stock market. Happily, as the Windsor Fund’s record shows, I won more arguments with the market than I lost.
John Neff
My whole career, I have argued with the stock market…
John Neff
[On the continual learning in share investing] Wherever learning curves begin in this mercurial business, they never seem to end.
John Neff
An inexhaustible flow of new information produces outlooks no one has seen before.
John Neff
Hang around long enough… and you will begin to recognize the market’s personality.
It is irrational and unsentimental. It is cantankerous and hostile. At times, it is forgiving and congenial.
John Neff
The market has good days and bad days, good years and bad years. You can’t predict them, and they can reverse course with stunning speed. But you can learn to cope with them and improve your odds.
John Neff
In the bargain, you can make good money.
John Neff
Whether you trade one stock a year or a stock a day (I don’t recommend the latter)…
John Neff
1 2 3
Return from John Neff Quotes to Quoteswise.com