Paul B. Farrell Quotes

“So much attention is paid to which funds are at the head of the pack today that most people lose sight of the fact that, over longer time periods, index funds beat the vast majority of their actively managed peers.”

“Buy (quality) and hold — and you’ll never sell.”

“Diversification is the lost art of being average. Don’t be greedy, be average. It doesn’t take a genius to figure out that if you put all your eggs in one basket, like Enron or some silly dot.bomb — and it goes belly-up—you’ll end up with an uncooked omelet.”

“Everybody is a financial genius in a bull market.”

“Follow these if you want to build a successful portfolio:
 
1. Save. Start early, save regularly, trust compounding to do the rest.
2. Diversify. Spread your risks across funds moving on different cycles.
3. Index. All you need to do is be average, and you’ll come out a winner.”

“Good ol’ Warren Buffett says his favorite holding period is 'forever'! He says the best time to sell is 'never'! Okay, so there are a few minor exceptions, but if you buy quality, you’ll never want to sell.”

“I’m far more baffled today, because I see how much the people who should know, really don’t. The best and the brightest are guessing, too — and they’re wrong more often than you and me.”

“In the long run, diversification always wins.”

“Investing is very, very simple. You can do it all by yourself.”

“Let’s face it, there really are so many more important things in life than worrying about your investments every day.”

“Market timing is for chumps and chimps. No kidding, folks, a chimpanzee throwing darts was able to create a portfolio that beat the nineties bull market for a few years. The market is totally random, irrational, and unpredictable. And it loves humbling the mighty. Try to beat it and you’ll lose money. That’s why market timing is a fool’s game, and why trading makes no sense for America’s laziest investors.”

“Most people really do want a portfolio that’s like a lazy day in the sun, stuff to reduce anxiety, increase peace of mind, and help you feel confident about the future so you can live like a millionaire today, whether you have your million already or are slowly inching your way toward it.”

“The laziest portfolios are truly the best portfolios for procrastinators, the financially challenged, and everyone who worries about dealing with their money — because they work.”

“The market truly is random and unpredictable. In fact, only a damn fool would try to outguess it. Flow with it, maybe. But you’ll never beat it.”

“Tortoises consistently beat hares. Think long term. ”

“Although you may be vaguely aware that other people do, in fact, think, feel, and behave differently from you, unless you know more about personality differences, you’re stuck, unable to pinpoint why others are different, wishing that they would be more like you.”

“Even if you don’t understand why you act the way you do, you are still responsible for your behavior.”

“Extraverts prefer the world outside themselves — drawing their energy through interacting with the external world. They have lots of friends, like to socialize and talk to people, and even think out loud as a way of working things out. They love telephone conversations, meetings, and group-think, and they tend to avoid private time. Their view of the world is objective, focused on things and people, cars, sports, family, machines, the home — things external to them.”

“Imagine, an entire life focused on one central theme, penetrating the secret of personality. In a way, all of us, you, me, and our neighbors are — consciously or unconsciously – also searching for the secret to our own individual personalities.

Think about it for a minute: When you cut to the chase, isn’t your entire life also focused on penetrating the secret of your personality — on discovering who you are, why you are here, and whether you are fulfilling your destiny?”

“Introverts are energized by their own inner world. They enjoy their own company, time alone, reading and thinking quietly, working things out before going into the real world with other people. They have a few close friends with intimate relationships. They are great listeners, preferring to avoid group meetings and long conversations. They live in their heads and enjoy a clearly subjective view of the world.”

“Most people are a mixture of extraverted and introverted, possibly shifting back and forth.”

“Progress, of course, comes when you change.”

“Sensation tells us that something exists.
Thinking tells you what is.
Feeling tells you whether something is agreeable or not.
Intuition tells you whence it comes and where it is going.”

“Some mysterious force — your personality, perhaps hidden in your DNA and genes — is conditioning, guiding, directing, perhaps even secretly (and unconsciously) controlling how you see the world, what kind of information you decide is important, and the very processes you use to make decisions and live every day in the world.”

“Some people become their true selves while still children, some when they emancipate from their parents’ home as teenagers and go forth as adults. Others do not choose until a major loss or midlife crisis. Still others not until late in life — or never. Everyone must decide for themselves: Are you your own person, or a clone?
This conflict, of course, is inevitable, because Jung also discovered that the preferences forming our personality become evident early in life, in childhood, as if they’re genetically locked in our DNA.”

“The only real mystery — if there is one — is discovering the real you and the millionaire within you. We’ve heard this great challenge so often since ancient times.

Writing in the Tao Te Ching 5,000 years ago, Lao Tzu tells us to 'follow your true nature'. Twenty-five hundred years ago, Plato repeated the message: 'Know thyself'.
Down though the ages, great mystics of all faiths tell us to 'listen to the still, small voice within', for there lies the truth of our being.

Get in touch with the real you and your mission in life — and then your unique path to getting rich in spirit and in fact will become obvious.”

“The problem is that there really is no one-sizefits-all, cookie-cutter approach to becoming a millionaire.”

“The reason there aren’t more millionaires in America is not because you and I lack the information. We know we have all the formulas, tools, databases, newsletters, methodologies, and software we’ll ever need on budgeting, saving, investing, and all the other tricks essential to becoming a millionaire. The problem is, we have too @#%& much information, not too little!”

“The relationship between Jung and Freud clearly grew out of mutual respect, admiration, and affection, at the beginning. But as time passed, the student’s own personality emerged, distinct from his teacher. At some point, such choices become quite simple, though all too often culminating in painful separations.

The choice, nevertheless, is clear and simple: You either surrender yourself and live your life as others define your personality, or you decide to break free and assert your own personality, letting it emerge and grow in the direction of your destiny.

Eventually, we are all confronted with choices like this.”

“The vast majority of Americans trying to become millionaires are doing it the wrong way — doing it someone else’s way, using formulas that just don’t fit with their true personality. Or worse yet, they get frustrated, give up, and do nothing.”