_Economy and Finance

One of the essential qualifications of the successful investor is patience. - Wall Street Sit tight and the market give you in due time the signal.

It's only when the tide goes out that you learn who's been swimming naked. - Warren Buffett (1930- ), Wall Street Charlie Munger said, "Warren and I are chicken about buying stocks on margin."

Whenever it is in any way possible, every boy and girl should choose as his life work some occupation which he should like to do anyhow, even if he did not need the money. - William Lyon Phelps (1865-1943)

When enough investors find themselves shorn, scapegoats will be sought. - Wall Street The real reason for a protracted decline is never bear raiding.

Successful investor must not only observe accurately but remember what he has observed. - Wall Street Bet always on probabilities.

Stocks always look worst at the bottom of a bear market and always look best at the top of a bull market. - Wall Street Do not underestimate of courage it takes to act on your beliefs.

You can construct a banking system in which no bank will ever fail, in which there's no leverage. But there would be a cost. There would be virtually no economic growth because there would be no credit creation. - Richard Ramsden of Goldman Sachs, 2010