Quotes About Finance

Instead of floating bond issues alone, the banks pooled their capital to share the risk of underwriting.

Morgan decided that it was hopelessly insolvent and had to be shut.

As Rockefeller moved into retirement, his wealth was accumulating at an astonishing rate.

Within two week's time, he saved several trust companies and a leading brokerage house, bailed out New York City, and rescued the Stock Exchange.

He was receiving about $3 million yearly in Standard Oil dividends (more than $50 million in 1996 dollars) and redirecting that into a vast portfolio of outside investments that made him a one-man holding company.

By 1907, however, they had exploited enough legal loopholes to become highly speculative.

With $24 million now invested outside the oil and gas business, he held sizable stakes in 16 railroad companies, 9 real-estate firms, 6 steel companies, 6 steamship companies, 9 banks and financial houses, and even 2 orange groves.

If education depended upon healthy tax rolls, then they would lift the entire tax base of the South.

Of the 35,000 Standard shares, Rockefeller held nearly 9,000, or three times the amount of Flagler, Harkness, Pratt, or Payne.)

Back at 23 Wall Street, Lamont received a wire from Jack Morgan expressing disgust with Mexico. Jack thought it a point of family honor to make sure Mexico repaid his father's 1899 loan: "I did not think any Government of modern times would so frankly proclaim its complete dishonesty or its abandonment of all decent finance or morals. Hope you did not have too trying a time, and congratulate you in getting out before they stole your pocketbook or watch.

They loaned out so much against stocks and bonds that by October 1907 as much as half the bank loans in New York were backed by securities as collateral—an extremely shaky base for the system.

A great business investment, religion. I'll take it over government bonds anytime.

You can't tax business. Business doesn't pay taxes. It collects taxes.

The problem is not that people are taxed too little, the problem is that government spends too much.

Tax increases don't eliminate deficits they increase govt. spending.

He had a reasonable job as an actuary (whatever that was)

el mundo entiende tan poco de entusiasmo como un financiero de caridad.

I can inspire people on how to use money, how to get economically powerful.

It's a nice bonus but, you know, I have to pay taxes too. (after winning the Grand Slam Cup.

We must achieve both security and solvency. In fact, the foundation of military strength is economic strength.

The strength in gold is revealing the general weakness in the dollar.

Earning a lot of money is not the key to prosperity. How you handle it is.

Don't look for the needle in the haystack. Just buy the haystack!

The historical data support one conclusion with unusual force: To invest with success, you must be a long-term investor.