Wit and Wisdom on Money, Wall Street and Success - Part #5

The key to successful investing just like life itself it to have a thorough understanding of RISK and REWARD. The Amateurs
think this means UP is Good and DOWN is BAD. People have very strange ideas about Success and Money. Focus your attention on Understanding RISK and it will all become clear.
Here are a few more of my favorite quotes on Wisdom, Money and Risk. Enjoy!
1) Why not invest your assets in the companies you really like? As Mae West said, "Too much of a good thing can be wonderful"
-Warren Buffett
2) Wall Street people learn nothing and forget everything.
-Benjamin Graham
3) Most of the time common stocks are subject to irrational and excessive price fluctuations in both directions as the consequence of the ingrained tendency of most people to speculate or gamble... to give way to hope, fear and greed.
-Benjamin Graham
4) "Investment and speculation are said to be two different things, and the prudent man is advised to engage in one and avoid the other. This is something like explaining to to the troubled adolescent that Love and Passion are two different things. He perceives that they are different, but they don't
seem quite different enough to clear up his problems."
-Fred Schwed, Jr., Where are The Customers' Yachts
5) "If you don't know who you are the stock market is an expensive place to find out."
-George Goodman
6) "A loss never bothers me after I take it. I forget it overnight. But being wrong, not taking the loss,
that is what does damage to the pocketbook and to the soul."
-Jesse Livermore
7) "The stock doesn't know you own it."
-Adam Smith, The Money Game
8) "I'd give $1000 to be a millionaire." - Lewis Timberlake
9) "No I'm in real trouble. First, my laundry called and said they lost my shirt and then my broker said the same thing."
-Leopold Fechtner
10) Money is a good servant but a bad master.
-Sir Francis Bacon
11) "Failure is Success if we learn from it."
- Malcolm S. Forbes
12) "Success is not final, failure is not fatal: it is the courage to continue that counts."
-Winston Churchill
13) "There are two questions you must answer to achieve wealth. What is the worst thing that ever happened to you in the markets? OK. Now what did you learn from it? You'll find most people will talk endlessly about the first topic. However, the silence on the second question will make you think you've lost your hearing!"
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