I buy when other people are selling.
Meaning of the quote
When others are selling their investments, that is usually the best time to buy. This is because the price of the investment is likely lower when people are selling it. By buying when others are selling, you can get the investment at a discounted price, which means you have a better chance of making a profit when the price goes back up. This strategy, used by successful businessman J. Paul Getty, takes advantage of the fact that people often make emotional decisions to sell when they are feeling fearful or pessimistic, even if the long-term outlook for the investment is still good.
About J. Paul Getty
J. Paul Getty was an incredibly wealthy American-British petroleum magnate who founded the Getty Oil Company. He was considered one of the wealthiest individuals in the world, with an estimated net worth of over $25 billion in today’s money. He was an avid art collector, and his collection formed the basis of the J. Paul Getty Museum in Los Angeles.
More quotes from J. Paul Getty
If you owe the bank $100 that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.
American industrialist and art collector (1892-1976)
The employer generally gets the employees he deserves.
American industrialist and art collector (1892-1976)
No one can possibly achieve any real and lasting success or ‘get rich’ in business by being a conformist.
American industrialist and art collector (1892-1976)
The meek shall inherit the Earth, but not its mineral rights.
American industrialist and art collector (1892-1976)
If you can count your money, you don’t have a billion dollars.
American industrialist and art collector (1892-1976)
Going to work for a large company is like getting on a train. Are you going sixty miles an hour or is the train going sixty miles an hour and you’re just sitting still?
American industrialist and art collector (1892-1976)
I buy when other people are selling.
American industrialist and art collector (1892-1976)
If you can actually count your money, then you’re not a rich man.
American industrialist and art collector (1892-1976)
Without the element of uncertainty, the bringing off of even, the greatest business triumph would be dull, routine, and eminently unsatisfying.
American industrialist and art collector (1892-1976)
Formula for success: rise early, work hard, strike oil.
American industrialist and art collector (1892-1976)
Oil is like a wild animal. Whoever captures it has it.
American industrialist and art collector (1892-1976)
In times of rapid change, experience could be your worst enemy.
American industrialist and art collector (1892-1976)
The man who comes up with a means for doing or producing almost anything better, faster or more economically has his future and his fortune at his fingertips.
American industrialist and art collector (1892-1976)
To succeed in business, to reach the top, an individual must know all it is possible to know about that business.
American industrialist and art collector (1892-1976)
I hate to be a failure. I hate and regret the failure of my marriages. I would gladly give all my millions for just one lasting marital success.
American industrialist and art collector (1892-1976)
Books, like proverbs, receive their chief value from the stamp and esteem of the ages through which they have passed.
American industrialist and art collector (1892-1976)
Money is like manure. You have to spread it around or it smells.
American industrialist and art collector (1892-1976)
There are one hundred men seeking security to one able man who is willing to risk his fortune.
American industrialist and art collector (1892-1976)