Quotes About Finance

Could America exist without an income tax? The idea seems radical, yet in truth America did just fine without a federal income tax for the first 126 years of her history.

The truth is that brains have little to do with either the making or accumulating of money.

I mean the truth is, I've never had it so good in terms of taxes. I am paying the lowest tax rate that I've ever paid in my life.

Nothing could be further from the truth than the claim that we have a choice between cutting tax and cutting unemployment, for the two go hand in hand.

You are in the field to defend the public interest, the financial truth for investors and the funds that should support the widow and the orphan.

The truth is, no one pays more tax than they have to.

The scary truth is 96 percent of mutual funds fail to match the market, and the 4 percent that do, they're always changing.

A VISIT TO THE STOCK EXCHANGE

that fifty percent of a person's medical expenses are incurred in the last six months of life.

Jack said he'd make some calls to the bank and Global Underwriters.

She had the two dollar bills ready

Money never sleeps, pal

Your Income Statement tells you (1) how much money you're spending and where; and(2) how much money you're receiving and from where. Flow gives you the same information as the Income Statement, plus it tells you when you're spending and receiving money—that is, Flow is an Income Statement moving through time.

Knowing where the money is and where it will be when you need it is a critically important task of both the Contractor-as-Employee and the Contractor-as-Owner.

Accountability for agency operations is fragmented. Each office in a network is a separate profit center. Each department in an office self-defines its missions. Creative heads focus on creativity; finance directors focus on headcounts, overhead and budgeted/ actual costs and profits; client heads manage the service that they provide to their 'disorganized' clients and keep them coming back for more. (Despite this there seem to be very few happy clients.) Managing

Andrei Shleifer writes in his excellent book Inefficient Markets: An Introduction to Behavioral Finance:

It's called fractional reserve banking. Before

When you're a conservative Republican, you never think people are making money by ripping other people off," he said. His mind was now fully open to the possibility. "I now realized there was an entire industry, called consumer finance, that basically existed to rip people off.

A Home without Equity Is Just a Rental with Debt

The line between gambling and investing is artificial and thin. The soundest investment has the defining trait of a bet (you losing all of your money in hopes of making a bit more), and the wildest speculation has the salient characteristic of an investment (you might get your money back with interest). Maybe the best definition of "investing" is "gambling with the odds in your favor.

Wall Street investment banks are like Las Vegas casinos: They set the odds. The customer who plays zero-sum games against them may win from time to time but never systematically, and never so spectacularly that he bankrupts the casino.

Complicated financial stuff was being dreamed up for the sole purpose of lending money to people who could never repay it.

Dark pools were another rogue spawn of the new financial marketplace. Private stock exchanges, run by the big brokers, they were not required to reveal to the public what happened inside them. They reported any trade they executed, but they did so with sufficient delay that it was impossible to know exactly what was happening in the broader market at the moment the trade occurred.

Every systemic market injustice arose from some loophole in a regulation created to correct some prior injustice.