Quotes About Finance

The avoidance of taxes is the only intellectual pursuit that carries any reward.

When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done

I find economics increasingly satisfactory, and I think I am rather good at it. I want to manage a railroad or organise a Trust or at least swindle the investing public

With the breakdown of money economy the practice of international barter is becoming prevalent.

I sympathize, therefore, with those who would minimize, rather than with those who would maximize, economic entanglement among nations. Ideas, knowledge, science, hospitality, travel--these are the things which should of their nature be international. But let goods be homespun whenever it is reasonably and conveniently possible, and, above all, let finance be primarily national.

The game of professional investment is intolerably boring and overexacting to anyone who is entirely exempt from the gambling instinct; whilst he who has it must pay to this propensity the appropriate toll

Successful investing is anticipating the anticipations of others

Markets can remain irrational a lot longer than you and I can remain solvent.

To make money by increasing net profit, while simultaneously increasing return on investment, and simultaneously increasing cash flow.

Interesting, isn't it, that each one of those definitions contains the word money," he says. "Throughput is the money coming in. Inventory is the money currently inside the system. And operational expense is the money we have to pay out to make throughput happen. One measurement for the incoming money, one for the money still stuck inside, and one for the money going out.

Throughput is the money coming in. Inventory is the money currently inside the system. And operational expense is the money we have to pay out to make throughput happen. One measurement for the incoming money, one for the money still stuck inside, and one for the money going out.

I'm proud to pay taxes in the United States; the only thing is, I could be just as proud for half the money.

the United States, led by Wall Street, was becoming entangled financially in the fate of the Entente. Defeat of France, Britain, and Russia could mean their default on their debts; default by the Entente would almost certainly mean bankruptcy for America's leading investment firms, not to mention the corporations that depended on the growing transatlantic business between the United States, the Allies, and their chief entrepôt, the port of London.

their reliance on a loyal circle of uncles and aunts, nephews and sons-in-law, to pool capital and lay off risk.

What I'm not saying is that all government spending is bad. It's not - far, far from it, but there is no free lunch, as a former colleague of mine used to say. There is no public tooth fairy. Father Christmas does not work on the Treasury staff this year. You can never bail someone out of trouble without putting someone else into trouble.

A financier is a pawnbroker with imagination.

pues nunca, que yo sepa, hubo verbos que al más avaro le dolieran en la bolsa.

Einstein was right about relativity, but even he would have had a difficult time applying relative valuation in today's stock markets.

A firm can have value only if it ultimately delivers earnings.

The intrinsic value of an asset is determined by the cash flows you expect that asset to generate over its life and how uncertain you feel about these cash flows.

In the intrinsic valuation chapter, we observed that the value of a firm is a function of three variables—its capacity to generate cash flows, its expected growth in these cash flows, and the uncertainty associated with these cash flows.

pero si compras un activo financiero lo haces por los flujos de caja que esperas recibir.

When a company is paying out more in dividends, it is retaining less in earnings; the book value of equity increases by the retained earnings.

The right price: Great growth companies can be bad investments at the wrong price. While multiples such as PEG ratios have their limitations, use them (low PEG ratios) to screen for companies that are cheap.