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XMFConnor (97.31)

Great Quote from David Gardner

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April 14, 2010 – Comments (2)

"Information gets factored into stock prices that none of us can ever fully know. Sometimes that information is right, and sometimes it's wrong. For these reasons, I respect the market and its pricing -- always have.

I've focused my efforts on seeking out excellence, as opposed to seeking out "cheap" -- or avoiding "overvalued." I try to find excellence, buy excellence, and add to excellence over time. I sell mediocrity. That's how I invest! :)"
 
--- David Gardner

This is an awesome quote in my opinion. Some of my worst investing decisions have been when I found great companies, but thought they were a little too expensive, which led me to miss their great runs. The bottom line is that if you buy into excellence, a few percentage points here or there will not matter in the long run, and this quote will help me remember that.

 Fool On!

 TMFConnor

2 Comments – Post Your Own

#1) On April 14, 2010 at 11:12 AM, DJoshuaRubin (97.99) wrote:

TMFConnor, - I could not agree more.  Great, great quote. In fact, that exact quote and style of thinking contributed mightily to my all-time biggest win, Netflix.  FWIW, I see the same qualities in CMG and UA.  And have been fearing their prices. You remind me not to take those fears too seriously.

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#2) On April 14, 2010 at 11:24 AM, alstry (35.70) wrote:

I wonder if David thinks its excellence when JP Morgan is making excellent money not by banking....as that is a money losing proposition, but by borrowing for free from taxpayers, paying nothing on savings, and trading against Fools?

Or how about when the schools, hospitals, police departments, and fire departments are shutting down because revenues are evaporating?

It is easy to respect the market when its going up......the question is will it be respected in the morning.

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