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What's your favorite quotes from books and guru investors


muscleman
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I really like the book "Trading in the Zone". There are lots of great quotes. These are not word by word from the book as I only remember the generation meaning, not the exact sentences.

 

"Smart investors are flexible in their expectations of each outcome and rigid in their rules. In contrast, amateur investors are flexible in their rules and rigid in their expectations".

"As a result, amateur investors never have a plan for cutting losses. They can't be wrong, so why have a plan for cutting losses?"

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"I would have almost 2k more a month to invest if I didn't have to pay income tax, SS, and medicare. 24k a year, 480k over 20 years. which would be worth almost double that if invested in SPY (backtest from 1990-2010)."

 

me

 

Your just being selfish.  Where would they get the money to murder brown kids overseas by the tens of thousands from if everyone thought like you?  Did you ever even once stop to think of that?

 

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On my FB profile this is what I list as my favorite quotes:

 

"A human being should be able to change a diaper, plan an invasion, butcher a hog, conn a ship, design a building, write a sonnet, balance accounts, build a wall, set a bone, comfort the dying, take orders, give orders, cooperate, act alone, solve equations, analyze a new problem, pitch manure, program a computer, cook a tasty meal, fight efficiently, die gallantly. Specialization is for insects." --Robert A. Heinlein

 

"I heartily accept the motto, That government is best which governs least; and I should like to see it acted up to more rapidly and systematically. Carried out, it finally amounts to this, which also I believe -- That government is best which governs not at all; and when men are prepared for it, that will be the kind of government which they will have." -- Henry David Thoreau, "On the Duty of Civil Disobedience" http://www.ibiblio.org/ebooks/Thoreau/Civil%20Disobedience.pdf

 

"Human beings are individualists by nature, who don't 'play well in groups'. The collective Intelligence quotient of any group is the IQ of the brightest person in the group divided by the number of its members" --L. Neil Smith, "The Serbian Mirror" http://www.ncc-1776.org/tle1997/le970401-03.html

 

"If a politician isn't perfectly comfortable with the idea of his average constituent, any man, woman, or responsible child, walking into a hardware store and paying cash -- for any rifle, shotgun, handgun, machinegun, anything -- without producing ID or signing one scrap of paper, he isn't your friend no matter what he tells you. If he isn't genuinely enthusiastic about his average constituent stuffing that weapon into a purse or pocket or tucking it under a coat and walking home without asking anybody's permission, he's a four-flusher, no matter what he claims...If he doesn't want you to have the means of defending your life, do you want him in a position to control it? " --L. Neil Smith, "Why Did it Have to be...Guns?" http://www.lneilsmith.org/whyguns.html

 

"Government is the disease that masquerades as its own cure." -- Robert LeFevre

 

"Always do right. This will gratify some people, and astonish the rest." --Mark Twain

 

"It takes 20 years to build a reputation and five minutes to ruin it." --Warren E. Buffet

 

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"I would have nothing to invest if I didn't live in a country with strong public education, rule of law, lots of opportunity and public infrastructure."

- Me

 

And you'd almost certainly have more (due to efficiency) is govt stayed out of all those things minus rule of law. Private schools outperform. Private infrastructure works just fine. There are hundreds of examples.

 

me

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"I would have nothing to invest if I didn't live in a country with strong public education, rule of law, lots of opportunity and public infrastructure."

- Me

 

And you'd almost certainly have more (due to efficiency) is govt stayed out of all those things minus rule of law. Private schools outperform. Private infrastructure works just fine. There are hundreds of examples.

 

me

 

Too bad my parents couldn't afford private school for me.

 

If the government ran all food distribution in the country "for free", you're parents probably couldn't have afforded to shop at private grocery stores or ate at restaurants like the rich people do either.  If there had been no government involvement and a flourishing education market for over 100 years you would certainly have had an education almost regardless of your parents' means.

 

 

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"I would have nothing to invest if I didn't live in a country with strong public education, rule of law, lots of opportunity and public infrastructure."

- Me

 

And you'd almost certainly have more (due to efficiency) is govt stayed out of all those things minus rule of law. Private schools outperform. Private infrastructure works just fine. There are hundreds of examples.

 

me

 

Too bad my parents couldn't afford private school for me.

 

Private school would be much cheaper if the monopoly, i mean govt would remove itself from the public education system and allow the free market to work. Let teacher compete for a salary. It's funny when you get rid of monopolies prices generally go down....You really think if all schools were private that they would hold the entire population hostage with high prices an nowhere to go?

 

When exactly did college begin to get expensive? When did healthcare begin to get expensive?

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I doubt that private infrastructure would be cheaper. Sure there is some inefficiency with public infrastructure but the advantage of a low cost of capital is huge.

 

Anyways, my favorite quote is:

 

“What the wise do in the beginning, fools do in the end.”

 

And then there is the age old wisdom:

 

“Goes butter, goes cheese”

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“Nationalism of one kind or another was the cause of most of the genocide of the twentieth century. Flags are bits of colored cloth that governments use first to shrink-wrap people's minds and then as ceremonial shrouds to bury the dead.”

 

― Arundhati Roy

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