Money Management Quotes - Page 2

• The general systems of money management [today] require people to pretend to do something they can't do and like something they don't. It's a terrible way to spend your life, but it's very well paid.

  Charlie Munger

  People, Today, Way

  Charlie Munger's investment advice at the 2003 Berkshire Hathaway Annual Meeting, www.tilsonfunds.com. May 3, 2003.

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• Many people take no care of their money till they come nearly to the end of it, and others do just the same with their time.

  Johann Wolfgang von Goethe

  Time, Money, Greatest Wealth

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• I'll keep reducing my trading size as long as I'm losing My money management techniques are extremely conservative. I never risk anything approaching the total amount of money in my account, let alone my total funds.

  Randy McKay

  Long, Risk, Size

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• How important are money management and finances in marriage and family affairs? Tremendously. The American Bar Association recently indicated that 89 percent of all divorces could be traced to quarrels and accusations over money. Another study estimated that 75 percent of all divorces result from clashes over finances. Some professional counselors indicated that four out of every five families wrestle with serious money problems.

  Jeffrey R. Holland

  Divorce, Important, Four

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• Good money management alone isn't going to increase your edge at all. If your system isn't any good, you're still going to lose money, no matter how effective your money management rules are. But if you have an approach that makes money, then money management can make the difference between success and failure.

  Monroe Trout

  Differences, Matter, Management

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• My style is basically trend following, with some special pattern recognition and money management algorithms.

  Ed Seykota

  Style, Special, Algorithms

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• The way in which we manage the business of getting and spending is closely tied to our personal philosophy of living. We begin to develop this philosophy long before we have our first dollar to spend; and unless we are thinking people, our attitude toward money management may continue through the years to be tinged with the ignorance and innocence of childhood.

  Catherine Crook de Camp

  Money, Attitude, Philosophy

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• As people strengthened their willpower muscles in one part of their lives—in the gym, or a money management program—that strength spilled over into what they ate or how hard they worked. Once willpower became stronger, it touched everything.

  Charles Duhigg

  People, Stronger, Willpower

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• Be you in what line of life you may, it will be amongst your misfortunes if you have not time properly to attend to [money management]; for. ... want of attention to pecuniary matters ... has impeded the progress of science and of genius itself.

  William Cobbett

  Science, Progress, Attention

  William Cobbett (2012). “Advice to Young Men And (Incidentally) to Young Women in the Middle and Higher Ranks of Life. In a Series of Letters, Addressed to a Youth, a Bachelor, a Lover, a Husband, a Father, a Citizen, or a Subject.”, p.62, tredition

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• 

  A bank is a place that will lend you money if you can prove that you don't need it.

  Bob Hope

  Funny, Hilarious, Sarcastic

  Quoted in Alan Harrington, Life in the Crystal Palace (1959).

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• When I first got money, I went through it like everybody else, because I didn't know. But, right now, I've educated myself and placed smart people around me. I surrounded myself with people who not only are intelligent and effective about finances, taxes, and money management, but they (also) love me.

  Steve Harvey

  Smart, Intelligent, People

  Source: www.finalcall.com

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• Money management has been a profession involving a lot of fakery - people saying they can beat the market, and they really can't.

  Robert J. Shiller

  People, Management, Beats

  "Robert Shiller: A Skeptic and a Nobel Winner". Interview with Jeff Sommer, www.nytimes.com. October 19, 2013.

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• Ain't only three things to gambling: knowing the 60-40 end of the proposition, money management, and knowing yourself.

  Puggy Pearson

  Knowing, Gambling, Three

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• Regardless of what we think we know and should happen the reality is that a lot of stock action is random. Therefore, money management is crucial if you want to be successful as a trader. To me, it`s the cornerstone of both making a living at trading and building wealth.

  Jeff Cooper

  Successful, Reality, Thinking

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• If money is your hope for independence you will never have it

  Henry Ford

  Inspirational, Money, Greatest Wealth

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• The monetary managers are fond of telling us that they have substituted 'responsible money management' for the gold standard. But there is no historic record of responsible paper money management ... The record taken, as a whole is one of hyperinflation, devaluation and monetary chaos.

  Henry Hazlitt

  Taken, Liberty, Gold

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• I don't know about you, but where I went to school, Money Management 101 wasn't offered. Instead we learned about the War of 1812, which of course is something I use every single day.

  T. Harv Eker

  War, School, Secret

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• Many respected economists and statesmen believe our national debt is neither unwieldy nor a dangerous burden on the country. The trouble is that a vast majority of the American people think otherwise.... It violates basic American ideas of thrift and money management. These strong public feelings cannot be ignored forever.

  Mo Udall

  Country, Strong, Believe

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• It's my guess that something like 5% of GDP goes to money management and itsattendant friction. I define it broadly - annuities, incentive pay, all trading, etc. Nobody else has used figures that high, but that's my guess. Worst of all, the people doing this are among the best and the brightest. Hundreds and thousands of engineers, etc. are going into hedge funds and investment banking. That is not an intelligent allocation of the brainpower of the civilization.

  Charlie Munger

  Intelligent, Gdp, Civilization

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• The general systems of money management today require people to pretend to do something they can't do and like something they don't. It's a funny business because on a net basis, the whole investment management business together gives no value added to all buyers combined. That's the way it has to work. Mutual funds charge two percent per year and then brokers switch people between funds, costing another three to four percentage points. The poor guy in the general public is getting a terrible product from the professionals.

  John C. Bogle

  Years, Two, People

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• It's natural that you'd have more brains going into money management. There are so many huge incomes in money management and investment banking - it's like ants to sugar. There are huge incentives for a man to take up money management as opposed to, say, physics, and it's a lot easier.

  Charlie Munger

  Men, Brain, Income

  Charlie Munger's comments on money managers at the 2001 Wesco Financial Annual Meeting, www.tilsonfunds.com. May 2, 2001.

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• Harvard and Yale concentrated with venture capitalists that got the best calls and brainpower. Very few firms made most of the money, and they made it in just a few periods. Everyone else returned between mediocre and lousy. When returns happened, envy rippled through institutional money management. The amount invested in venture capital went up 10 times post-1999. That later money was lost very quickly. It will happen again. I don't know anyone who successfully resists this stuff. It becomes a new orthodoxy.

  Charlie Munger

  Yale, Envy, Venture Capitalists

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• I regard the amount of brainpower going into money management as a national scandal. When some idiot would get rich, they'd say, 'Well, old Charlie was out in the field playing the big brass tuba on the day it rained gold.' A lot of people have become rich lately who were playing the tuba on the day it rained gold.

  Charlie Munger

  People, Gold, Tubas

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