The most sensible skill that I can give to somebody born in 2003 is a perfect command of Mandarin.
Paper money is made of cotton, and I’m long cotton, by the way. One reason I’m long cotton is because Dr. Bernanke is out there running the printing presses as fast as he can.
There is no such thing as a paper loss. A paper loss is a very real loss.
If anybody laughs at your idea, view it as a sign of potential success!
I was poor once, I didn’t like it, I don’t want to be poor again.
If you want to be lucky, do your homework.
You can no longer buy commodities at Merrill Lynch. My guess is many analysts and even executives are too young to know how profitable a hot commodities market can be. They will soon.
I’ve got one shot going through this life. I want to make sure I do as much as I can.
You don’t train for only the 100-meter dash and you don’t practice only the excerpts. When I prepared for auditions, I spent most of my time each day on scales and exercises to be my best in basic musicianship, and only a half-hour or so on the actual excerpts I’d be playing.
Commodities tend to zig when the equity markets zag.
Tough times helped many commodities traders become lean and mean through consolidation, mergers and cost cutting. All that excess supply has been sopped up.
Do not buy the hype from Wall St. and the press that stocks always go up. There are long periods when stocks do nothing and other investments are better.
Never act upon wishful thinking. Act without checking the facts, and chances are that you will be swept away along with the mob.
The Federal Reserve was not founded to bail out Bear Stearns or a few hedge funds. It was founded to keep a stable currency and maintain its value.
When things go wrong on a macroeconomic level, it’s almost always this way. People find someone to blame, whether it’s blacks, whites, Christians, Jews, Muslims-whoever.
I don’t think there is a sound UK bank now, at least, if there is one I don’t know about it. The City of London is finished, the financial centre of the world is moving east. All the money is in Asia. Why would it go back to the West? You don’t need London.
Debasing your currency sometimes works in the short term, it has never worked in the long term and does not even usually work in the medium term. Lots of politicians like to do it because it is an easy way.
Get inside information from the president and you will probably lose half of your money. If you get it from the chairman of the board, you will lose all of it.
Many investors seem to have forgotten a hard reality: There are frequent periods when stock markets don’t do much.
Most of my thoughts, you couldn’t print.