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999 Warren Buffett Quotes - Learn His Secrets of Investing During & After Crisis

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One Up On Wall Street SUMMARY Conclusion Chapter 20 – 50,000 Frenchmen Can Be Wrong

The market, like individual stocks, can move in the opposite direction of the fundamentals over the short term Be optimistic about America and investing in general Market declines are great opportunities to buy stocks in companies that you like You can never predict the market It takes years, not months to produce big results You can make serious money by compounding a series of 20-30 percent gains in Stalwarts Stock prices often move in opposite direction but the long term, the direct and sustainability of profits will prevail Buying a company just because its cheap is a losing strategy Selling an outstanding fast grower because its stock slights overpriced is a losing technique You don’t lose anything by not owning a successful stock Stock doesn’t know that you own it Don’t be attached to a winner Don’t stop monitoring the story If you don’t think you can beat the market then buy a mutual fund Keep an open mind to new ideas Read One Up On Wall Street by Peter Lynch Chapter 19 full su...
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The Dhandho Investor SUMMARY - Chapter 2 Manilal Dhandho

Manilal is not a Patel, but he is their first cousin. Like the Patels he hails from Gujarat and has virtually identical cultural and religious beliefs. Manilal is an unassuming, pleasant 54 year old guy, a very honest, hardworking and likeable fellow. Manilal had trained and worked as an accountant in India. His brother sponsored him, he was able to get green card and migrate to the United States with his wife and kids. He arrived in San Francisco with no cash or assets. Manilal was under pressure to earn money to support his family. Early 1990s, United States was in a deep recession and his first job was at gas station at minimum wage. Manilal and his siblings all started saving. Their first objective was to get a larger place and they decided to buy a house. They pooled their savings in 1994 and bought a house.
The Persian gas station owner recognized Manilal’s integrity and hard work ethos, made him manager of the gas station. Besides wages, he gave 10 percent from the net profit. Manilal managed like an owner. Manilal became intimately familiar with the gas station business. In 1998, Manilal decided that he wanted to buy a small business with his extended family. After 9/11, Manilal came across a Best Western Motel for sale for $4.5 million.
Manilal told Pabrai that he was deeply skeptical about handing money to anyone in any type of business endeavor. However, he was going to manage the motel and his investors had handed him the money. He received a salary and the profits were split among the partners in proportion of their ownership. After 4 years, The motel’s market value is over $9 million, a 100% increase. When Manilal took over the motel in 2001, average occupancy was under 60 percent and now north of 65 percent generating revenue of $2.1 million compared to $1.6 million when he started. The motel is likely generating $800,000+ in free cash flow annually after paying his salary. His daughter is now 32. She is married with 2 kids and recently bought a motel in Utah which she manages with her husband. He worked hard, saved it all and bet on a no Brainer bet. As prices and occupancy collapsed, Manilal stepped in and made his play. His story is all about “Few Bets, Big Bets, Infrequent Bets.” Heads, I win; tails, I don’t lose much!”

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