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Quotes

Charlie Munger answers the Q:How to get rich?

A young shareholder asked Munger how to follow in his footsteps, and Munger brought down the house by saying, “We get these questions a lot from the enterprising young. It’s a very intelligent question: You look at some old guy who’s rich and you ask, ‘How can I become like you, except faster?’”

Munger’s reply was: “Spend each day trying to be a little wiser than you were when you woke up. Discharge your duties faithfully and well. Step by step you get ahead, but not necessarily in
fast spurts. But you build discipline by preparing for fast spurts… Slug it out one inch at a time, day by day, at the end of the day — if you live long enough — most people get what they deserve.”

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Quotes

Imagine & Believe

Bruce Kovner is arguably one of the top hedge fund managers of the past 30 years, averaging a return of 21% net of fees over that period. In responding to a question about what makes a great investor/trader in the book Market Wizards, Mr. Kovner says: “I’m not sure one can really define why some traders make it, while others do not. For myself, I can think of two important elements. First, I have the ability to imagine configurations of the world different from today and really believe it can happen. I can imagine that soybean prices can double or that the dollar can fall to 100 yen.Second, I stay rational and disciplined under pressure”

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Chart

Where did Indian Investors put their money in April-June 2014?

Fund Flow April-June 2014 Quarter
Fund Flow April-June 2014 Quarter
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Cartoon

A little less risky investment

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Links

Linkfest: 07 July,2014

Some stuff that I am reading today morning:

How expensive is the Indian market? (Mint)

Delhi tops list for property fraud cases (FE)

10 stocks to watch out after budget (BS)

Why Mercs are selling like hot cakes in India (BL)

Chinese Tycoon Guo copying Buffett rises from bread to Club Med (Bloomberg)

A lesser known gem by Ben Graham (Basehitinvesting)

When to be a contrarian (DragonFly)

The most important Q every investor must answer (TradersJournal)

Larry Page:Maybe we should all be part time workers (TRB)

A Simple Q to boost your portfolio by 200% (DailyReckoning)