Mariko Gordon Quotes
103 Mariko Gordon Quotes
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[In September 2012.] Being smart, efficient and tactical, and allowing ample time for rest and recovery along the way, is much more critical to success than nonstop, frantic activity.
Mariko Gordon
[In November 2012.] Businesses should not be run with the number one priority to make their numbers for the next three months.
Mariko Gordon
[In December 2012.] Investing is part facts and figures (where debates are fairly easy to settle), and part squishy things, like trying to predict the future and trying to quantify how much fear or greed is already reflected in a stock price (lots of controversy, unsettleable by facts). Without conviction, emotions trample decision making - and there you are, stupidly selling fear (cheap) and buying popularity (expensive), rather than buying hatred (low) and selling euphoria (high).
Mariko Gordon
[In December 2012.] Pursuing value means we have to deal with more volatile, mess-with-your-head types of stocks…
Mariko Gordon
[In February 2013.] Reading about industries long gone teaches you about competitive forces and technological obsolescence. Reading company histories helps you appreciate the miracle that is a well-run enterprise. Reading memoirs of investors as diverse as
Bernard Baruch, Martin Sosnoff or
Jesse Livermore allows you to apply the lessons they learned without having to live through them yourself.
Mariko Gordon
[In March 2013.] All of my investment process mistakes (as opposed to all my bad outcomes - this is an important distinction, as one can have bad outcomes despite a good process) have always come from a place of emotion.
Mariko Gordon
[In April 2013.] While data can be indisputable, the conclusions derived from such data are not… A prescription for better investment returns: Invest a lot of time upfront in understanding the context from which that data was derived by asking great open-ended questions.
Mariko Gordon
[In May 2013.] If you can't explain a concept to someone else, you haven't mastered it enough to pass the test.
Mariko Gordon
[In May 2013 on being able to play devils advocate and being able to force yourself to take radically different perspectives on an investment idea.] People on Wall Street take themselves very seriously, and in order to do this you need almost a sense of play and make-believe. You have to pretend to be somebody completely different. Ask yourself: If I'm the most brilliant short-seller in the world, what is the investment case I'd be looking for? If I'm a momentum guy [who buys rapidly rising stocks], is there anything here for me?
Mariko Gordon
[In June 2013.] As in life, there are always tradeoffs in both business and investing.
Mariko Gordon
[In August 2013 on living over her parents’ Hertz rent-a-car franchise learning her family traits of hard work and ambition.] Between the time I was 2 up until I was 10 I would watch my parents work and wanted to learn what they were doing all day.
Mariko Gordon
[In August 2013 in comparison to Chuck Royce liking to own hundreds of stock, Mariko] Preferred the thrill of watching over a small number of positions.
Mariko Gordon
[In October 2013.] While investing may not require French Foreign Legion levels of combat readiness, it does require the same mental toughness.
Mariko Gordon
[In November 2013.] It's possible to be mediocre across the board, but it's im-possible to be truly excellent everywhere.
Mariko Gordon
[In April 2014.] Once your emotions start driving the process you're setting yourself up for a bad decision.
Mariko Gordon
Thrift, fearlessness, resilience, hard work, intellectual curiosity and an ability to take and avoid risk are in my blood - a perfect pedigree for a money manager.
Mariko Gordon
Given my family history, combining entrepreneurship and portfolio management by founding Daruma in 1995 wasn’t as far-fetched as it might seem for a Princeton `83 comparative literature major.
Mariko Gordon
My parents were serial entrepreneurs, so I spent my childhood getting a firsthand view of business.
Mariko Gordon
When my boss decamped to the west coast, I joined Royce & Associates.
Chuck Royce is a small-cap legend who gave up his go-go growth ways and converted to value investing after the late sixties bull market collapsed. Chuck gave me my first chance to manage a portfolio, and taught me how best to cross-examine management. I will never forget watching him stand calmly by the trader’s desk buying stocks hand over fist in the crash of `87.
Mariko Gordon
We buy stocks with the potential to go up 50% or more over the next two years, with a reward-to-risk ratio of three to one.
Mariko Gordon
We run concentrated portfolios because, in our experience, concentration works. A concentrated portfolio means that every stock has to earn its keep.
Mariko Gordon
We prefer to measure success by our investment track record rather than the amount of assets under management.
Mariko Gordon
A popular form of Daruma in Japan is the papier-m’âché doll… traditionally purchased at New Year’s. The owner commits to fulfilling a goal through hard work and discipline and paints a pupil in the left eye. Once the goal is achieved, the right eye can be filled in, making the doll complete.
Mariko Gordon
[In October 2014.] Being a good investor requires, among other things, knowing how not to lose money.
Mariko Gordon
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