Andy Kessler Quotes

But I was confused. Here we were scrambling around looking under rocks for great long-term investments, and every other hedge fund, or so it seemed, was doing some funny hedge of cheap yen money and T-bills. That's investing?

When you think long-term, the edge is really investing because others can't know.

You invest in companies with great long-term prospects.

Cheap power helped create a new market that didn't exist previously.

Our portfolio was more of a Roach Motel-stocks came in and never left. This was exciting.

Wealth really is a never-ending process. So is running money. You can't just walk away and ask about the meaning of life.

I think what I learned is that wealth comes not just from taking risk but from constantly taking risks.

High elasticity means that unit output goes up more than prices went down, so you get a growth business.

The stock market teaches you the hard way - it's all in the margin.

but then I remembered how crass it is to talk money or stocks with university types.

The stock of the greatest company in the world is crap if every investor already thinks it is the greatest company in the world.

But someone knew and made a killing. It was investing when you know something no one else knows.

But the stock market is not 1:1-it is not a zero sum game. So those deaf, dumb and blind economists can't find the capital flows.

Give me a big enough sandbox to play in, and I'll find the part of it not being used as kitty litter.

Stocks are a voting mechanism, pure and simple. They are a collective vote of expectations of each company's future fundamentals.