“The art of banking is always to balance the risk of a run with the reward of a profit. The tantalizing factor in the equation is that riskier borrowers pay higher interest rates. Ultimate safety - a strongbox full of currency - would avail the banker nothing. Maximum risk - a portfolio of loans to prospective bankrupts at usurious interest rates - would invite disaster. A good banker safely and profitably treads the middle ground.” ArtRunningInterestPayRiskMiddleBalanceHigherUltimateSafetyRewardsRateProfitDisasterFactorsInvitesCurrencyEquationsBankingLoanMaximumBankersInterest RatePortfoliosMiddle GroundBorrowersTantalizing Author:James Grant
“In almost every walk of life, people buy more at lower prices; in the stock market they seem to buy more at higher prices.” PeopleSeemsWalksMoneyHigherInvestingWalks Of Life Author:James Grant
