„We tend to think of the stock and bond markets as relatively recent historical phenomena, but, in fact, there have been credit markets since human civilization first took root in the Fertile Crescent.“

Fuente: The Four Pillars of Investing (2002), Chapter 1, No Guts, No Glory, p. 6.

Citas similares

Warren Buffett Foto

„In the stock market you do not base your decisions on what the market is doing, but on what you think is rational.“

—  Warren Buffett American business magnate, investor, and philanthropist 1930

Quoted in The Warren Buffett Portfolio: Mastering the Power of the Focus Investment Strategy (2000), p. 112, and Think, Act, and Invest Like Warren Buffett: The Winning Strategy to Help You Achieve Your Financial and Life Goals (2012), p. 22 <!-- also in -->
Contexto: I wouldn't mind going to jail if I had three cellmates who played bridge. … The approach and strategies [of bridge and stock investing] are very similar. In the stock market you do not base your decisions on what the market is doing, but on what you think is rational. With bridge, you need to adhere to a disciplined bidding system. While there is no one best system, there is one that works best for you. Once you choose a system, you need to stick with it.

Edwin Lefèvre Foto
Jerry Pournelle Foto
John Ralston Saul Foto
James Tobin Foto

„There is no reason to think that the impact [of monetary policy] will be captured in any single [variable]…, whether it is a monetary stock or a market interest rate.“

—  James Tobin American economist 1918 - 2002

Fuente: "A general equilibrium approach to monetary theory" (1969), p. 29 as cited in: Andrés, Javier, J. David López-Salido, and Edward Nelson. " Tobin's imperfect asset substitution in optimizing general equilibrium http://research.stlouisfed.org/wp/2004/2004-003.pdf." Journal of Money, Credit and Banking (2004): 665-690.

Mark Kingwell Foto
Edgar Degas Foto

„Anyone would think paintings were made like speculations on the stock market, out of the frictions of ambitious young people… …it sharpens the mind, but clouds your judgement.“

—  Edgar Degas French artist 1834 - 1917

Quote from The private lives of the Impressionists, Sue Roe, Harpen Collins Publishers, New York 2006, p. 34
quotes, undated

Benjamin Graham Foto

„Nearly everyone interested in common stocks wants to be told by someone else what he thinks the market is going to do. The demand being there, it must be supplied.“

—  Benjamin Graham American investor 1894 - 1976

Fuente: The Intelligent Investor: The Classic Text on Value Investing (1949), Chapter III, The Investor and His Advisers, p. 48

Tom Watson Foto

„I think there is a world market for maybe five computers.“

—  Tom Watson American businessman 1874 - 1956

Often dated to 1943. Thorough research of Watson's writings and statements have produced no example of him saying this. It appears to be a corruption of a remark by Howard Aiken that four or five computers could meet all of the United Kingdom's computing needs. See Ralph Keyes (2006), The Quote Verifier.

David Graeber Foto
James Carville Foto
J. P. Morgan Foto

„The first thing [in credit] is character … before money or anything else. Money cannot buy it.… A man I do not trust could not get money from me on all the bonds in Christendom. I think that is the fundamental basis of business.“

—  J. P. Morgan American financier, banker, philanthropist and art collector 1837 - 1913

Testimony to the Pujo Committee (1912)
Untermyer: Is not commercial credit based primarily upon money or property?
Morgan: No, sir; the first thing is character.
Testimony to the Pujo Committee (1912)

Jean-Claude Juncker Foto

„We feel we need a Capital Market Union, Energy Union, Economic and Monetary Union but we also think we need security union“

—  Jean-Claude Juncker Luxembourgian politician 1954

After the 2016 Brussels bombings. http://www.politico.eu/article/jean-claude-juncker-eu-needs-a-security-union-brussels-attacks/ (23 March, 2016)

W.E.B. Du Bois Foto

„I believe that there are human stocks with whom it is physically unwise to intermarry, but to think that these stocks are all colored or that there are no such white stocks is unscientific and false.“

—  W.E.B. Du Bois American sociologist, historian, activist and writer 1868 - 1963

As quoted in Fighting Fire with Fire: African Americans and Hereditarian Thinking, 1900-1942 by Gregory Michael Dorr (RTF document) http://www.wfu.edu/~caron/ssrs/Dorr.rtf. Dorr dates this quote to 1910.

Roderick Long Foto
James Callaghan Foto
Paul Kurtz Foto

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