Quotes About Value

Justice is not only about the right way to distribute things. It is also about the right way to value things.

Being good at making money measures neither our merit nor the value of our contribution.

If I had been playing for money I would have complained a long time ago that I was underpaid.

Life is short, love is rare, and time is easy to waste.

Waste your money and you're only out of money, but waste your time and you've lost a part of your life.

There was but one question he left unasked, and it vibrated between his lines: if gross miscalculations of a person's value could occur on a baseball field, before a live audience of thirty thousand, and a television audience of millions more, what did that say about the measurement of performance in other lines of work? If professional baseball players could be over- or under valued, who couldn't?

Life is a book. The fact that it was a short book doesn't mean it wasn't a good book. It was a very good book.

The U.S. stock market was now a class system, rooted in speed, of haves and have-nots. The haves paid for nanoseconds; the have-nots had no idea that a nanosecond had value.

Risk, I had learned, was a commodity in itself.

I'm not paying you for the player you used to be, I'm paying you for the player you are right now.

What's amazing is that they make a market in this fantasy stuff," said Druskin. "It's not a real asset.

Textbooks in economics, which explain the economic purpose of money (a unit of account, a store of value, and a means of exchange), usually neglect to mention the chief role of money in America: a source of entertainment.

By May 2007, however, there was a growing dispute between Howie Hubler and Morgan Stanley. Amazingly, it had nothing to do with the wisdom of owning $16 billion in complex securities whose value ultimately turned on the ability of a Las Vegas stripper with five investment properties, or a Mexican strawberry picker with a single $750,000 home, to make rapidly rising interest payments.

16 billion in complex securities whose value ultimately turned on the ability of a Las Vegas stripper with five investment properties, or a Mexican strawberry picker with a single $750,000 home, to make rapidly rising interest payments.

Investing well was all about being paid the right price for risk.

Wall Street paid the most for what I could do, which was nothing.

Amos thought people paid an enormous price to avoid mild embarrassment," said his friend Avishai Margalit, "and he himself decided very early on it was not worth it.

This was extreme. An NFL football field is a tightly strung economy. Everything on it comes at a price. Take

The more money one has, the less he values each additional increment, or, equivalently, that the utility of any additional dollar diminishes with an increase in capital.

the difference between a great software guy and an okay software guy is huge. A great software guy is worth ten times an okay software guy.

No longer were the prices of ordinary mortgage bonds allowed to roam inefficiently, for they were now linked to the CMO market, in much the same way that flour is linked to the market for bread. Fair value for CMOs (the finished product) implied a fair value for conventional mortgage bonds (the raw materials).

The U.S. stock market was now a class system, rooted in speed, of haves and have-nots. The haves paid for nanoseconds; the have-nots had no idea that a nanosecond had value. The haves enjoyed a perfect view of the market; the have-nots never saw the market at all. What had once been the world's most public, most democratic, financial market had become, in spirit, something more like a private viewing of a stolen work of art.

A new trader could leap into a market and trade frantically inside it without adding anything of value to it.

Value investors like Graham and Dodd are so focused on being the last one laughing that they miss a lot of the laughs in between.