“In going directly to Investment Heaven, you build your portfolio as you would build a wonderful company through a merger and acquisition program. You specify the way you want your portfolio to look, and then you assemble the profile piece by piece by bringing together companies that make their own individual contributions to the desired character.”

Source: The Inefficient Stock Market - What Pays Off And Why (1999), Chapter 14, The Roads to Heaven and Hell, p. 139

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "In going directly to Investment Heaven, you build your portfolio as you would build a wonderful company through a merge…" by Robert Haugen?

Robert Haugen13

American economist 1942–2013

Related quotes

“This [covariance] is something that is not in the habit of thinking of most amateur investors. They look at their investments one at a time, and they don't, you always have to go back and say, what's the covariance? That's what really matters for what happen to your portfolio. Because when you invest in a lot of companies that are all the same, you're asking for trouble, because the whole thing is going to either blow up or succeed. And you can't live like that. You have to be looking for low covariance.”

Robert J. Shiller (1946) American economist

Robert Shiller. Chalk Talk - Covariance, Financial Markets (Coursera) https://www.coursera.org/learn/financial-markets-global/lecture/41Ujc/chalk-talk-covariance.

“You have to build an industry. You have to be very nimble, and you have to be connected to your customers, and that can't be done with just one company.”

Mike Lazaridis (1961) Canadian businessman

Bloomberg: "The Co-Inventor of BlackBerry Is Building Canada’s Quantum Brain Trust" https://www.bloomberg.com/news/articles/2018-02-09/the-co-inventor-of-blackberry-is-building-canada-s-quantum-brain-trust (09 February 2018)

“James — it's about your sister
I wonder if you missed her
I'm on my way to see you but I don't know what to bring
Almost gave up the ghost, now you have what she wants most
a little piece of heaven and a lovely song to sing.”

Ysabella Brave (1979) American singer

"James (new original song!)" (5 July 2007) http://youtube.com/watch?v=ZQSHT2DcHoU

“Greed is not defined by what something costs; it is measured by what it costs you. If anything costs you your faith or your family, the price is too high. Such is the point Jesus makes in the parable of the portfolio.”

Max Lucado (1955) American clergyman and writer

Source: When God Whispers Your Name

“Set out to build a company and make a contribution, not an empire and a fortune.”

David Packard (1912–1996) American electrical engineer, co-founder of Hewlett-Packard, businessman, U.S. Deputy Secretary of Defense,…

Source: Bill & Dave, 2007, p. 394

“Buy into a company because you want to own it, not because you want the stock to go up.”

Warren Buffett (1930) American business magnate, investor, and philanthropist

Interview in Forbes magazine (1 November 1974)
Context: Draw a circle around the businesses you understand and then eliminate those that fail to qualify on the basis of value, good management and limited exposure to hard times. … Buy into a company because you want to own it, not because you want the stock to go up. … People have been successful investors because they've stuck with successful companies. Sooner or later the market mirrors the business.