Investing and connecting are the key factors in turning any intention into reality.
Quinn's First Law of Investing is never to buy anything whose price you can't follow in the newspapers. An investment without a public marketplace attracts the fabulists the way picnics attract ants. Stock brokers and financial planners can tell you anything they want, because no one really knows what's true. The First Corollary to Quinn's First Law states that, even when the price is in the newspapers, you shouldn't buy anything too complex to explain to the average 12-year-old.
What's both fascinating and challenging about investing is that the changing nature of business and finance means you can never have it all figured out.
It is the long-term investor...who will in practice come in for the most criticism... For it is the essence of his behavior that he should be eccentric, unconventional, and rash in the eyes of average opinion
There is scarcely an instance of a man who has made a fortune by speculation and kept it
It is not the return on my investment that I am concerned about; it's the return of my investment
one of the greatest deterrents to successful investing is the three-letter word ego.
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.
To buy when others are despondently selling and sell when others are greedily buying requires the greatest fortitude and pays the greatest reward.
The boom, not the slump, is the right time for austerity at the Treasury.
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.
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.
When the suffering becomes acute enough, one goes forward.
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.
...the Federal Reserve has the capacity to operate in domestic money markets to maintain interest rates at a level consistent with our economic goals
I'll give you the bottom 10% and the top 10% of any move if I get to keep the middle 80%.
Time and space are not conditions of existence, time and space is a model for thinking
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.
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.
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.
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.
That is to say, under the old way any time we wish to add to the national wealth we are compelled to add to the national debt. Now, that is what Henry Ford wants to prevent. He thinks it is stupid, and so do I, that for the loan of $30,000,000 of their own money the people of the United States should be compelled to pay $66,000,000 - that is what it amounts to, with interest.
I know that I am one with beauty and that my comrades are one. Let our souls be mountains, Let our spirits be stars, Let our hearts be worlds.
What we've done last night is what I call pushing back the risks..If there is a risk in a bank, our first question should be 'Okay, what are you in the bank going to do about that? What can you do to recapitalise yourself? If the bank can't do it, then we'll talk to the shareholders and the bondholders, we'll ask them to contribute in recapitalising the bank, and if necessary the uninsured deposit holders.
Bureaucracies are progressive. meaning they have a burning fear that someone. somewhere, is doing something without permission.
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