Rule No. 1 : Never lose money. Rule No. 2 : Never forget Rule No. 1.
The most powerful force in the universe is compound interest
When I feel sad, I try to think of someone else in the world who is suffering worse than me. Like someone in Seattle, who is hurting so bad financially that instead of a vente coffee at Starbucks every morning, they have to downsize to grande.
Corruption,’ Jordan Belfort believes, ‘is endemic to human being. I mean, even men in monasteries – where enticement is hard to come by – even men in those circumstances have sex with other men and abuse children. Look at the Catholic Church! Man is an imperfect animal and he is corruptible, okay? And in finance,...
This moves Sumitomo Trust into a new field – consumer finance. It’s not at all a bad move.
The U.S. stock market was now a class system, rooted in speed, of haves and have-nots. The haves paid for nanoseconds; the have-nots had no idea that nanoseconds had value. The haves enjoyed a perfect view of the market; the have-nots never saw the market at all.
They can buy whatever brand they want. We will supply the finance.
If we end up doing some kind of financing, we will probably finance both buildings together.
You still could go to some industry or some university or the government and if you could persuade them you had something on the ball—why, then, they might put up the cash after cutting themselves in on just about all of the profits. And, naturally, they’d run the show because it was their money and...
We have to have a mechanism of financial support to President Abbas. We have to find a way to finance him and his structures because of his responsibilities as president of the Palestinian Authority and as the primary interlocutor with the international community.
A company could use bricks to measure their growth rate. How many bricks have angry investors thrown at you lately? If the answer is none, then your growth rate is probably pretty good… for the moment.
(…) my money guy Richard is going without a tie now, like a politician who wants to appeal to the suffering common man (or perhaps every morning his firm takes the ties and shoelaces away from the brokers and financial planners to keep them from offing themselves)
[Jeremy Siegel, a professor of finance at the Wharton School, sees the year-long sell-off as a rational response to fast-weakening corporate profits. And he says the worst may not be over.] I don’t think (tech stocks) are cheap, … But they are closer to true value.
I was convinced that I was totally incompetent in predicting market prices – but that others were generally incompetent also but did not know it, or did not know they were taking massive risks. Most traders were just “picking pennies in front of a steamroller,” exposing themselves to the high-impact rare event yet sleeping like...
Price ain’t merely about numbers. It’s a satisfying sacrifice.
These heroes of finance are like beads on a string when one slips off, all the rest follow
The truth is that banks are the last feudal kingdoms, their rulers omnipotent, divine warlords. Their key lieutenants are ‘ronin’ (wandering mercenary samurai) who roam financial markets ready to ally themselves to any warlord for a share of plunder. This is not the place to apply the latest management theory.
In life’s journey, having the ability to predict the future gives us an unfair advantage. If we can understand the laws of cause and effect, anyone can predict the future. What we do today leads us to tomorrow’s destination.Why does this simple truth seem to be difficult for most people to understand?
We begged, borrowed and stole $40,000 to finance the project.