TIPS

“Beware of barbers, beauticians, waiters – or anyone – bringing gifts of inside information or ‘tips’” Bernard Baruch

"As a 'Canny Scot' associated with one of the famous Scottish investment trusts stated, "Follow a tip from a company's president, and you will lose half your money. Get a tip from the Chairman, and you will lose all of it" Bennett Goodspeed

"Avoid inside information as you would the plague"  Philip Carret

“With enough inside information and a million dollars, you can go broke in a year” Warren Buffett

“When somebody is trying to give you information that might be a problem – what you want to do is shut your ears because it sounds like inside information and firstly might get you into trouble and almost invariably it is wrong, so ignore it as best you can. If necessary say “don’t talk to me anymore” Peter Cundill

“I urge you always to keep a little notebook with you. Jot down interesting market information; thoughts that maybe helpful in the future; ideas that may be re-read from time to time; little personal observations you have made on price movements. On the first page of this little book I suggest you write – no, better print- it in ink:     Beware of inside information …. All inside information” Jessie Livermore

“I will never use inside information or seek it out. I do implicitly believe in Sir Simund Warburg’s adage, 'All you get from inside information is a whiff of bad breath'” Peter Cundill

"If somebody’s going to invest using hot tips, or listening to CNBC, or investing with so-called wealth managers at brokerage firms, I think it’s a loser’s game for them" Lou Simpson

“Don’t buy on tips or for a quick move.” Walter Schloss

“Never invest solely on a tip. Why, that’s obvious, you might say. It is. But you would be surprised how many investors, people who are well educated and successful, do exactly this. Unfortunately, there is something psychologically compelling about a tip. It’s very nature suggests inside information, a way to turn a fast profit” Sir John Templeton

"You’re not going to win by trying to get what the next tip is – what’s going to be good and what’s going to be bad. You’re definitely going to lose.” Ray Dalio

“I go cold when someone tips me on a company. I like to start with a clean sheet: no one’s word. No givens. I’m more comfortable where there are no brokers looking over my shoulder” Peter Cundill

"To the rash and impetuous stock picker who chases hot tips and rushes in and out of his equities, an "investment" in stocks is no more reliable than throwing away paychecks on the horse with the prettiest mane, or the jockey with the purple silks" Peter Lynch

"We don't want any insider information. We want to be as flexible as we can be [and not prevented from trading a stock]" Lou Simpson