Portfolio Management Quotes

Wide diversification is only required when investors do not understand what they are doing. ~ Warren Buffett

To be sure, the cost of managing capital and of "formal" financial intermediation (that is, the investment advice and portfolio management services provided by a bank or official financial institution or real estate agency or managing partner) is obviously taken into account and deducted from the income on capital in calculating the average rate of return (as presented here). But this is not the case with "informal" financial intermediation: every investor spends time - in some cases a lot of time - managing his own portfolio and affairs and determining which investments are likely to be the most profitable. This effort can in certain cases be compared to genuine entrepreneurial labor or to a form of business activity. ~ Thomas Piketty

Control yourself, it is not worth it. You will regret your rudeness afterwards, your sensitive nature will be troubled ~ Leila Aboulela

If you want to make better theory, you've got to use the best that's available and look through the lens of another discipline to see if you can uncover more anomalies. By looking at the phenomena of failure from the perspective of sales, marketing, finance, general management, and the equity markets, I was able to see things that Rebecca [Henderson] hadn't. ~ Clayton Christensen

When setting goals, create 'stretch' goals. They will assist you in developing your potential to its fullest! ~ Ann Marie Sabath

THE PURPOSE OF this whole method of workflow management is not to let your brain become lax, but rather to enable it to move toward more elegant and productive activity. In order to earn that freedom, however, your brain must engage on some consistent basis with all your commitments and activities. You must be assured that you're doing what you need to be doing, and that it's OK to be not doing what you're not doing. ~ David Allen

On every door the management had placed a photograph of the person so they could find their room. As he went by he saw face after face of someone who used to be young. ~ Fannie Flagg

Dedication and time management are two of the biggest things. I hate being late for anything. If anything, I prefer to be ten minutes early rather than thirty seconds late. I'm also very dedicated and I want to do my best in everything I do. I believe swimming has helped transfer that into my life as well. ~ Liam Tancock

Expect the best, plan for the worst and prepare to be surprised. ~ Dennis Waitley

Golf is 20 percent talent and 80 percent management. ~ Ben Hogan

Enterprise Risk Management (ERM) involves viewing risk holistically and horizontally across an organization. Both insurable and non-insurable risks are identified across all facets and disciplines of an entity, with the objective to eliminate, ameliorate or transfer such risks - or prepare to accept them. ~ Al Decker

Training is a case of stress management. Stress and rest, stress and rest ~ Brooks Johnson

Since 1946, the Cubs have had two problems: They put too few runs on the scoreboard and the other guys put too many. So what is the new management improving? The scoreboard. ~ George Will

Web banking lets you monitor your spending, tweak your budget, schedule payments, and more, particularly if you marry your online bank with the personal-finance management tools available online. ~ Jean Chatzky

Higher position means greater service and an apportunity to purely represent Srila Prabhupada. Hence our management must be based on humility and tolerance. ~ Bhakti Charu Swami

Things rarely get stuck because of lack of time. They get stuck because what "doing" would look like, and where it happens, hasn't been decided. In ~ David Allen

Always consider the qualifications of anyone who assumes or professes authority, what do they really know? Authorities on spirituality can rarely give a half coherent explanation of what they persuade us to believe they know. They achieve authority by stage management and then exploit audience suggestibility. Same old trick they have pulled for thousands of years. ~ Peter J. Carroll

Perhaps many of the security analysts are handicapped by a flaw in their basic approach to the problem of stock selection. They seek the industries with the best prospects of growth, and the companies in these industries with the best management and other advantages. The implication is that they will buy into such industries and such companies at any price, however high, and they will avoid less promising industries and companies no matter how low the price of their shares. This would be the only correct procedure if the earnings of the good companies were sure to grow at a rapid rate indefinitely in the future, for then in theory their value would be infinite. And if the less promising companies were headed for extinction, with no salvage, the analysts would be right to consider them unattractive at any price. ~ Benjamin Graham

The process of simplifying man's environment and rendering it increasingly elemental and crude has a cultural as well as a physical dimension. The need to manipulate immense urban populations - to transport, feed, employ, educate and somehow entertain millions of densely concentrated people - leads to a crucial decline in civic and social standards. A mass concept of human relations - totalitarian, centralistic and regimented in orientation - tends to dominate the more individuated concepts of the past. Bureaucratic techniques of social management tend to replace humanistic approaches. All that is spontaneous, creative and individuated is circumscribed by the standardized, the regulated and the massified. The space of the individual is steadily narrowed by restrictions imposed upon him by a faceless, impersonal social apparatus. Any recognition of unique personal qualities is increasingly surrendered to the manipulation of the lowest common denominator of the mass. A quantitative, statistical approach, a beehive manner of dealing with man, tends to triumph over the precious individualized and qualitative approach which places the strongest emphasis on personal uniqueness, free expression and cultural complexity. ~ Murray Bookchin

In their groundbreaking book, Tribal Leadership, management consultants Dave Logan, John King, and Halee Fischer-Wright lay out the five stages of tribal development, which they formulated after conducting extensive research on small to midsize organizations. ~ Phil Jackson

Before hoarding became a phenomenon, people just called it "collecting" or "being nostalgic." I don't hoard, exactly, but I get it. It's a response to our need and desire for purpose, order, definition, and a fortress. It's a calling that requires constant management, control, and obsessive attention. I am amassing artifacts from the history of me. My garage is the storeroom and temporary exhibition hall of the yet-to-be-built museum documenting the rise and fall of the Marc Age. I am the curator. I decide the meaning and worth of the collection based on my feelings in a moment. ~ Marc Maron

Companies, as they grow to become multi-billion-dollar entities, somehow lose their vision. They insert lots of layers of middle management between the people running the company and the people doing the work. They no longer have an inherent feel or a passion about the products. The creative people, who are the ones who care passionately, have to persuade five layers of management to do what they know is the right thing to do. ~ Steve Jobs

The essence of effective portfolio construction is the use of a large number of poorly correlated assets. ~ William J. Bernstein

Good businesses can survive a little bad management. ~ Charlie Munger

The subordinate's job is not to reform or reeducate the boss, not to make him conform to what the business schools or the management book say bosses should be like. It is to enable a particular boss to perform as a unique individual. ~ Peter Drucker

You can change only what people know, not what they do. ~ Scott Adams

Many rules could be made for the giving of orders. Don't preach when you give orders. Don't discuss matters already settled unless you have fresh data. Make your direction so specific that there will be no question whether they have been obeyed or not. Find out how to give directions and yet to allow people opportunity for independent thinking, for initiative. And so on and so on. Order-giving requires just as much study and just as much training as any other skill we wish to acquire. ~ Mary Parker Follett

In crisis management, be quick with the facts, slow with the blame. ~ Leonard Saffir

Such a study indicates that the greatest investment reward comes to those who by good luck or good sense find the occasional company that over the years can grow in sales and profits far more than industry as a whole. It further shows that when we believe we have found such a company we had better stick with it for a long period of time. It gives us a strong hint that such companies need not necessarily be young and small. Instead, regardless of size, what really counts is a management having both a determination to attain further important growth and an ability to bring its plans to completion. ~ Philip A. Fisher

The primary goal of management education was, as originally conceived, to impart knowledge that could be applied to a variety of real-world business situations. ~ Warren Bennis

Study the lives of highly successful people from any corner of life, across history, in any environment, and you will discover they share one trait: They keep moving forward. Sometimes slowly. Often with great difficulty. Frequently after painful mistakes, defeats, or failures. Success is less about talent and opportunities, and more about commitment and motivation. ~ Joe Jordan

Employ thy time well, if thou meanest to gain leisure. ~ Benjamin Franklin

In almost any change there is 20 - 60 - 20. 20% are doing the change and we need to stay out of their way. 20% will never get there (a large percent still go into banks to see tellers vs. ATMs). 60% are in the middle. I think you will always find some companies where the head of HR is not a member of senior management team (bottom 20% and some companies where she or he has always been (top 20%). ~ Dave Ulrich

Unprofessionalism damages the business reputation and tarnishes the trust of society. ~ Pearl Zhu

If you want to know the real reasons why certain politicians vote the way they do - follow the money. Arch Brexiteer Jacob Rees-Mogg (a.k.a. JackOff Grease-Smug) stands to make billions via his investment firm - Somerset Capital Management - if the UK crashes unceremoniously out of the European Union without a secure future trade deal. Why ? Because proposed EU regulations will give enforcement agencies greater powers to curb the activities adopted by the sort of off-shore tax havens his company employs. Consequently the British electorate get swindled not once, but twice. Firstly because any sort of Brexit - whether hard, soft, or half-baked - will make every man, woman and child in the UK that much poorer than under the status quo currently enjoyed as a fully paid up member of the EU. Secondly because Rees-Mogg's company, if not brought to heel by appropriate EU wide legislation, will deprive Her Majesty's Treasury of millions in taxes, thus leading to more onerous taxes for the rest of us. It begs the question, who else in the obscure but influential European Research Group (ERG) that he chairs and the Institute for Economic Affairs (IEA) that he subscribes to, have similar vested interests in a no-deal Brexit ? It is high time for infinitely greater parliamentary and public scrutiny into the UK Register of Members' Financial Interests in order to put an end to these nefarious dealings and appalling double standards in public life which only serve to further corrode public ~ Alex Morritt

Bob Iger, Disney's chief operating officer, had to step in and do damage control. He was as sensible and solid as those around him were volatile. His background was in television; he had been president of the ABC network, which was acquired in 1996 by Disney. His reputation was as an corporate suit, and he excelled at deft management, but he also had a sharp eye for talent, a good-humored ability to understand people, and a quiet flair that he was secure enough to keep muted. Unlike Eisner and Jobs, he had a disciplined calm, which helped him deal with large egos. " Steve did some grandstanding by announcing that he was ending talks with us," Iger later recalled. " We went into crisis mode and I developed some talking points to settle things down. ~ Walter Isaacson

When markets are rallying, cash in the portfolio is a drag on performance, returning about zero. ~ Barry Ritholtz

Holding your team accountable to do the jobs they're being paid to do is not being mean; it's being a manager, and that's your job. ~ Liz Weber

It's a great discipline to have to report to somebody, even if you're the sole owner ~ Tim O'Reilly

Nothing is stronger than habit. ~ Ovid

Although science is not easy in complex human systems, we cannot afford to throw our hands in the air and give up. It may take decades, but it is a game worth playing and winning. ~ Paul Gibbons