Quotes

Abundance of money is a trial for a man. – Moroccan Proverb

A single bag of money is stronger than two bags of truth. – Danish Proverb

High finance isn’t burglary or obtaining money by false pretenses, but rather a judicious selection from the best features of those fine arts. – Finley Peter Dunne

Wall Street professionals know that acting on ‘inside tips’ will break a man more quickly than famine, pestilence, crop failure, political readjustments or what may be called normal accidents. – Edwin Lefevre

Between the chance of making an unusually large profit on an unknown company and the assurance of losing only a small amount on an established company, the normal mutual-fund manager, pension-fund manager, or corporate-portfolio manager would jump at the latter. Success is one thing, but it’s more important not to look bad if you fail. – Peter Lynch

When managers want to get across the facts of a business to you, it can be done within the rules of accounting. Unfortunately, when they want to play games, at least in some industries, it can also be done within the rules of accounting. If you can’t recognize the differences, you shouldn’t be in the equity-picking business. – Warren Buffett

Having a financial adviser enables the investor to carry a psychological call option. If the investment decision turns out well, the investor takes the credit, and if it turns out badly, the regret can be lowered by blaming the adviser. – Hersh Shefrin

In the world of investment management, it is far better to fail very badly in a conventional way and lose a great deal of money for your client than to lose a little in an unconventional fashion. – Marc Faber

Whoever imagines that the average Wall Street professional is looking for reasons to buy exciting stocks hasn’t spent much time on Wall Street. The fund manager most likely is looking for reasons not to buy exciting stocks, so that he can offer the proper excuses if those exciting stocks go up. – Peter Lynch

Risk comes from not knowing what you’re doing. – Warren Buffett