THEY SAID IT BEST

“Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria.”

John Templeton (pg. 10)

 

“Better that a man should tyrannize over his bank balance than over his fellow-citizens.”

John Maynard Keynes (pg. 21)

"The poor and middle-class work for money. The rich have money work for them."

Robert Kiyosaki (pg. 22)
 

"The market does what it should do, but not always when."

Jesse Livermore (pg. 31)

 

“They don’t ring a bell when it’s time to sell.”

Bill Henry (pg. 31)

"The smart investor must know the difference between what is temporarily undervalued and what is permanently undervalued."

John Templeton (pg. 32)

 

“The stock market is the only place where the customers don’t buy when
the merchandise goes on sale.”

Alex Green (pg. 35)

 

“No one can possibly achieve any real and lasting success or ‘get rich’ in business
by being a conformist.”

J. Paul Getty (pg. 37)


"When everyone is thinking the same way, nobody is thinking."

General George Patton Jr. (pg. 39)

"Buy on the sound of the cannon, sell on the sound of the trumpets."

Baron Rothschild (pg. 41)

"The more certain something is, the less likely it is to be profitable."

Jim Rogers (pg. 45)

"Everyone has the brainpower to make money in stocks. Not everyone has the stomach."

Peter Lynch (pg. 48)

"Risk taking is necessary for large success - but it is also necessary for failure."

Nassim Taleb (pg. 49)

"If you can't take the sting, don't reach for the honey."

Unknown (pg. 51)

"Fast ripe, fast rotten."

Japanese Proverb (pg. 54)

"Troubled waters make for good fishing."

Daniel Drew (pg. 56)

"Bubbles are invisible to those inside the bubbles."

Jim Dines (pg. 61)

“Throughout the centuries there were men who took first steps down new roads

armed with nothing but their own vision.”

Ayn Rand (pg. 62)

"To be a successful investor you must draw on many disciplines."

Charlie Munger (pg. 62)

"An investor without investment objectives is like a traveler without a destination."

Ralph Seger (pg. 65)

“The arrogant are blind to the truth.”

Jim Rogers (pg. 74)

"Even the best hitters in baseball have slumps."

Mark Skousen (pg. 78)

"To be successful in business and investing, you've got to have skin in the game,
a stake in the company."

Warren Buffett (pg. 78)

"The problem is that pretty soon you run out of other people's money."

Margaret Thatcher (pg. 79)

“The greatest lesson in life is to know that even fools are right some times.”

Winston Churchill (pg. 83)

"Keep quiet and speculate."

George Soros (pg. 86)

"A lone amateur built the arc; a large group of professionals built the Titanic."

Unknown (pg. 87)

 

"I need money, badly, but not badly enough to do one dishonorable, shady,
borderline or 'fast' thing to get it."

Ernest Hemingway (pg. 88)

"Price is what you pay. Value is what you get."

Warren Buffett (pg. 91)

"In the short term, the market is a voting machine. In the long run, it is a weighing machine."

Ben Graham (pg. 92)

"You don't get what you want from investing, you get what you deserve."

Bill Bonner (pg. 93)

"Owners of sound securities should never panic."

J. Paul Getty (pg. 103)

 

“If you like the story, buy the stock.”

Peter Lynch (pg. 107)

 

"An investment in knowledge pays the best interest."

Benjamin Franklin (pg. 112)

"When in doubt, stay out."

Jim Dines (pg. 116)

“Never tell them what you’re going to do until you done it.”

Commodore Vanderbilt (pg. 121)

"Bank on the trends and don't worry about the tremors."

J. Paul Getty (pg. 125)

"Capitalism without failure is like religion without hell."

Charlie Munger (pg. 136)

 

"You have to sift through a lot of dirt before you find the gold."

Unknown (pg. 141)

“The stock market and the economy are two different things.”

Milton Friedman (pg. 143)

"Although it's easy to forget, a share of stock is not a lottery ticket.
It's part ownership of a business."

Peter Lynch (pg. 144)

 

"To make it, concentrate; to keep it, diversify."

Mark Skousen (pg. 146)

 

"Markets can remain irrational longer than you can remain solvent."

John Maynard Keynes (pg. 152)

"You learn only from your losses, not your gains."

Anonymous (pg. 152)

"Sometimes the best investments are the ones you don't make."

Donald G. Smith (pg. 165)

"Nothing is safe, nothing is sure in any field of life."

Gerald Loeb (pg. 167)

"I don't know what the seven wonders of the world are, but I know the eighth,
compound interest."

Baron Rothschild (pg. 169)

"Do you know the only thing that gives me pleasure? It is to see my dividends coming in."

John D. Rockefeller (pg. 171)

"To double your money in a year, you have to bet on what people don't know that's true."

Mark Skousen (pg. 181)

“It requires a great deal of boldness and a great deal of caution to make a large fortune,
and when you have it, you require ten times as much wit to keep it.”

Nathan Rothschild (pg. 186)

"The years roll round and the last will comes; when I would rather have it said, 'he lived usefully' than 'he died rich'."

Benjamin Franklin (pg. 189)

* Source (unless otherwise noted): "The Maxims of Wall Street", by Mark Skousen, second edition, 2013.