"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)


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

John Templeton (pg. 32)

"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)

"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)

"Bubbles are invisible to those inside the bubbles."

Jim Dines (pg. 61)

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

Charlie Munger (pg. 62)

"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)

"A lone amateur built the arc; a large group of professional 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)

"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)


"Capitalism without failure is like religion without hell."

Charlie Munger (pg. 136)


"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)

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

Baron Rothschild (pg. 169)

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