Physically there is nothing to distinguish human society from the farm-yard except that children are more troublesome and costly than chickens and calves and that men and women are not so completely enslaved as farm stock.
We need to move beyond the demonisation of overpaid traders ... In finance and economics, ill-designed policy is a more powerful force for harm than individual greed or error.
SUPPOSE that an investor you admire and trust comes to you with an investment idea. This is a good one, he says enthusiastically. I'm in it, and I think you should be, too.
My business is to be talented, that is, to be capable of selecting the important moments from the trivial ones. . . . It's about time for writers - particularly those who are genuine artists - to recognize that in this world you cannot figure out everything. Just have a writer who the crowds trust be courageous enough and declare that he does not understand everything, and that alone will represent a major contribution to the way people think, a long leap forward.
When we do not know a person - and also when we do - we have to judge his size by the size and nature of his achievements, as compared with the achievements of others in his special line of business - there is no other way.
Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy only when others are fearful.