Quotes About Finance

The war we are fighting today against terrorism is a multifaceted fight. We have to use every tool in our toolkit to wage this war - diplomacy, finance, intelligence, law enforcement, and of course, military power - and we are developing new tools as we go along.

Baron Rothschild quipped that there are "three principal ways to lose your money: wine, women, and engineers. While the first two are more pleasant, the third is by far more certain.

Ideas, knowledge, science, hospitality, travel – these are the things that 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.

It is not the miser who gets rich; but he who lays out his money in fruitful investments.

Over and over again, financial experts and wonkish talking heads endeavor to explain these mysterious, 'toxic' financial instruments to us lay folk. Over and over, they ignobly fail, because we all know that no one understands credit default obligations and derivatives, except perhaps Mr. Buffett and the computers who created them.

The sense that just about anything goes with the collection of public revenues and the making of public expenditure has contributed mightily to the current malaise.

PROBLEM 1. Assume yourself richer by $300 than you are today. You are offered a choice between A. A sure gain of $100, or [72%] B. A 50% chance to gain $200 and a 50% chance to lose $0. [28%] PROBLEM 2. Assume yourself richer by $500 than you are today. You are offered a choice between A. A sure loss of $100, or [36%] B. A 50% chance to lose $200 and a 50% chance to lose $0.

Markowitz's strategy can be viewed as one example of what might be called the diversification heuristic. "When in doubt, diversify.

Whenever anyone asks me for investment advice, I tell them to buy a diversified portfolio heavily tilted toward stocks, especially if they are young, and then scrupulously avoid reading anything in the newspaper aside from the sports section. Crossword puzzles are acceptable, but watching cable financial news networks is strictly forbidden.#

Hint: always take the largest deductible you can. It will save you a lot of money over the long run.)

When your neighbor tells you that you can't lose money buying (fill in the blank here) that is probably a good sign that it is time to get out of that type of investment.

He tried his hand at doing some research on the psychology of the stock market, but grew frustrated with the reactions he got from the referees at mainstream finance and economics journals and eventually abandoned the research program.

People will be risk-averse for gains, but risk-seeking for losses

professional money managers perform no better than simple market averages

Insecurity will always be a growth industry. The economy now depends on fear.

Oh…bank vaults," Leo said. "Never thought about that.

Call your debit- and credit-card companies to let them know the countries you'll be visiting, to ask about fees, request your PIN code (it will be mailed to you), and more. See here for details.

What was an actuary? Juliet wondered. It sounded as if it belonged in a zoo, along with a cassowary and a dromedary.)

The way to become rich is to make money, my dear Edna, not to save it

It is devastating to have the illness and aggravating to have to pay for medications, blood tests, and psychotherapy. They, at least, are partially deductible. But money spent while manic doesn't fit into the Internal Revenue Service concept of medical expense or business loss. So after mania, when most depressed, you're given excellent reason to be even more so.

During the Depression, much of my career was dictated by a fanatical aversion to washing dishes. The only job I could find to finance college involved washing dishes,so I joined the Navy instead.

Marcus Goldman in 1869 launched what would become Goldman, Sachs & Company and pioneered the use of what is known today as commercial paper. In return for lending a merchant, say, $900, Goldman would receive a written promise from the merchant to pay back $1,000. That paper could then be traded like a security.

A bank is a place that will lend you money if………………………………… you can prove you don't need it.

There will always be crashes. They are necessary to remind good and bad investors that risk is real.