Conseils Des Plus Grands Managers (document en anglais)

Introduction

They say “great money managers are like the rock stars of the financial world”.

The greatest investors not only make a fortune off their success but they also help millions achieve similar returns.

We've collected some of the finest wisdom on markets from the most respected and successful investors, past and present.

1 ) George Soros: Good investing is boring: "If investing is entertaining, if you’re having fun, you’re probably not making any money. Good investing is boring."

2) John Neff: Do what's smart, not what's popular : "It's not always easy to do what's not popular, but that's where you make your money. Buy stocks that look bad to less careful investors and hang on until their real value is recognized."

3) Henry Kravis: Be honest : "If you don't have integrity, you have nothing. You can't buy it. You can have all the money in the world, but if you are not a moral and ethical person, you really have nothing."

4) John Templeton: This time is not different : "The four most dangerous words in investing are 'This time it's different.'"

5) Philip Fisher: Know the value of your investments : “The stock market is filled with individuals who know the price of everything, but the value of nothing.”

6) Warren Buffett: _Be greedy when others are fearful : "Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy only when others are fearful."

_The company is more important than price : "It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price."

_ Time is good only for some : Time is the friend of the wonderful business, the enemy of the mediocre."

_ Don't swing at everything : "The stock market is a no-called-strike game. You don't have to swing at everything--you can wait for your pitch. The problem when you're a money manager is that your fans keep yelling, 'Swing,

7) Ken Fisher: Keep history in mind : "You can’t develop a portfolio strategy around endless possibilities. You wouldn’t even get out of bed if you considered everything that could possibly happen..... you can use history as one tool for shaping reasonable probabilities. Then, you look at the world of economic, sentiment and political drivers to determine what’s most likely to happen—while always knowing you can be and will be wrong a lot."

8) Thomas Rowe Price Jr : Know who's running the business, and why : “Every business is manmade. It is a result of individuals. It reflects the personalities and the business philosophy of the founders and those who have directed its affairs throughout its existence. If you want to have an understanding of any business, it is important to know the background of the people who started it and directed its past and the hopes and ambitions of those who are planning its future.”

Informations about the investors :

Thomas Rowe Price Jr : Price is considered to be "the father of growth investing .He

graduated from Swarthmore College with a degree in chemistry in 1919 before discovering that he liked working with numbers better than chemicals. He moved into a career in investments when he started working with the Baltimore-based brokerage firm of Mackubin Goodrich, which today is known as Legg Mason. Price eventually rose to become its chief investment officer.

Price spent his formative years struggling with the Depression, and the lesson he learned was not to stay out of stocks but to embrace them. Price viewed financial markets as cyclical. As a "crowd opposer," he took to investing in good companies for the long term, which was virtually unheard of at this time. His investment philosophy was that investors had to put more focus on individual stock-picking for the long term. Discipline, process consistency and fundamental research became the basis for his successful investing career. .

Warren Buffet : Warren Buffett graduated from the University of Nebraska in 1950 with a Bachelor of Science degree. After reading "The Intelligent

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