Investing Quotes - Page 16

• You have never lost money in stocks over any 20-year period, but you have wiped out half your portfolio in bonds (after inflation). So which is the riskier asset?

  Jeremy Siegel

  Years, Half, Portfolios

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• one of the greatest deterrents to successful investing is the three-letter word ego.

  Venita VanCaspel

  Money, Successful, Ego

  Venita VanCaspel (1983). “The power of money dynamics”, Simon & Schuster

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• We are quite convinced that if he were alive today, as an astute businessman looking out to the future, he would be moving out of fossil fuels and investing in clean, renewable energy.

  Stephen Heintz

  Business, Moving, Today

  "Heirs to Rockefeller oil fortune divest from fossil fuels over climate change" by Suzanne Goldenberg, www.theguardian.com. September 22, 2014.

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• The Wheels of Justice turn slowly but exceedingly fine.

  Unknown

  Justice, Wheels, Fine

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• To buy when others are despondently selling and sell when others are greedily buying requires the greatest fortitude and pays the greatest reward.

  John Templeton

  Pay, Rewards, Buying

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• The boom, not the slump, is the right time for austerity at the Treasury.

  John Maynard Keynes

  Slumps, Austerity, Treasury

  John Maynard Keynes (1982). “Activities 1931-1939: world crises and policies in Britain and America”

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• ...By combining a popular hatred of the class of entrepreneurs with the blow already given to social security by the violent and arbitrary disturbance of contract,... governments are fast rendering impossible a continuance of the social and economic order of the nineteenth century.

  John Maynard Keynes

  Blow, Government, Order

  John Maynard Keynes (1929). “The Economic Consequences of the Peace: The classic text on the Treaty of Versailles and post war Europe”, p.140, Harriman House Limited

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• A sound banker, alas, is not one who foresees danger and avoids it, but one who, when he is ruined, is ruined in a conventional and orthodox way along with his fellows, so that no one can really blame him. It is necessarily part of the business of a banker to maintain appearances, and to confess a conventional respectability, which is more than human. Life-long practices of this kind make them the most romantic and the least realistic of men.

  John Maynard Keynes

  Men, Practice, Long

  "The Consequences to the Banks of the Collapse of Money Values" (1931)

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• A point must be repeated: only the pathological weakness of the financial memory...allows us to believe that the modern experience of....debt...is in any way a new phenomenon.

  John Kenneth Galbraith

  Memories, Believe, Weakness

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• Successful tape reading is a study of Force; it requires ability to judge which side has the greatest pulling power and one must have the courage to go with that side.

  Richard Wyckoff

  Reading, Successful, Judging

  Richard Wyckoff (2006). “Studies in Tape Reading”, p.95, Cosimo, Inc.

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• Perhaps never before or since have so many people taken the measure of economic prospects and found them so favorable as in the two days following the Thursday [24th October 1929] disaster.

  John Kenneth Galbraith

  Taken, Two, People

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• Those who had been riding the upward wave decide now is the time to get out. Those who thought the increase would be forever find their illusion destroyed abruptly, and they, also, respond to the newly revealed reality by selling or trying to sell. And thus the rule, supported by the experience of centuries: the speculative episode always ends not with a whimper but with a bang.

  John Kenneth Galbraith

  Reality, Forever, Trying

  John Kenneth Galbraith (1994). “A Short History of Financial Euphoria”, p.11, Penguin

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• Almost every aspect of its (Federal Reserve) history should be approached with a discriminating disregard for what is commonly taught or believed.

  John Kenneth Galbraith

  Taught, Should, Disregard

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• If we had a truth-in Government act comparable to the truth-in-advertising law, every note issued by the Treasury would be obliged to include a sentence stating: This note will be redeemed with the proceeds from an identical note which will be sold to the public when this one comes due.

  Walter Wriston

  Government, Law, Would Be

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• The intellectual and social climate needed to allow entrepreneurship to thrive will not exist in advanced capitalism.

  Joseph A. Schumpeter

  Intellectual, Climate, Entrepreneurship

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• When the suffering becomes acute enough, one goes forward.

  Hermann Hesse

  Suffering, Enough

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• The best approach here, if at all possible, is to use supervisory and regulatory methods to restrain undue risk-taking and to make sure the system is resilient in case an asset-price bubble bursts in the future.

  Ben Bernanke

  Risk, Use, Resilient

  "U.S. Fed boosts bank scrutiny" by Craig Torres and Michael McKee, www.nationalpost.com. November 20, 2009.

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• ...the Federal Reserve has the capacity to operate in domestic money markets to maintain interest rates at a level consistent with our economic goals

  Ben Bernanke

  Goal, Levels, Economic

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• I'll give you the bottom 10% and the top 10% of any move if I get to keep the middle 80%.

  Bernard Baruch

  Moving, Giving, Top 10

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• Time and space are not conditions of existence, time and space is a model for thinking

  Albert Einstein

  Thinking, Space, Existence

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• It is impossible for us, with our limited means, to attempt to educate the body of the people. We must at present do our best to form a class who may be interpreters between us and the millions whom we govern.

  Thomas B. Macaulay

  Mean, Class, People

  "Minute by the Hon'ble T. B. Macaulay, dated the 2nd February 1835". "Bureau of Education. Selections from Educational Records, Part I (1781-1839)" edited by H. Sharp, Reprint. Delhi: National Archives of India, www.columbia.edu. 1965.

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• Once public opinion is convinced that the increase in the quantity of money will continue and never come to an end, and that consequently the prices of all commodities will not cease to rise, everybody becomes eager to buy as much as possible and restrict his cash holdings to minimum size... If the credit expansion is not stopped in time, the boom turns to crack-up boom: the flight into real values begins, and the whole monetary system founders.

  Ludwig von Mises

  Real, Public Opinion, Cracks

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• In all the new states of the Union, land monopolization has gone on at an alarming rate, but in none of them so fast as in California, and in none of them, perhaps, are the evil effects so manifest.

  Henry George

  Land, California, Evil

  Henry George (1871). “Our Land and Land Policy, National and State”, p.13

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• Government means always coercion and compulsion and is by necessity the opposite of liberty. Government is a guarantor of liberty and is compatible with liberty only if its range is adequately restricted to the preservation of economic freedom. Where there is no market economy, the best-intentioned provisions of constitutions and laws remain a dead letter.

  Ludwig von Mises

  Mean, Government, Law

  Ludwig Von Mises (1990). “Economic freedom and interventionism: an anthology of articles and essays”

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• There is no means by which anyone can evade his personal responsibility. Whoever neglects to examine to the best of his abilities all the problems involved voluntarily surrenders his birthright to a selfappointed elite of supermen. In such vital matters blind reliance upon 'experts' and uncritical acceptance of popular catchwords and prejudices is tantamount to the abandonment of self-determination and to yielding to other people's domination. As conditions are today, nothing can be more important to every intelligent man than economics. His own fate and that of his progeny are at stake.

  Ludwig von Mises

  Determination, Mean, Responsibility

  "Human Action". Book by Ludwig von Mises, 1949.

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