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Quote by Gerald R. Ford

“I had a lot of experience with people smarter than I am.”

Quote by Gerald R. Ford

Author

Gerald R. Ford served as the 38th President of the United States from 1974 to 1977. He was the only president to serve without a previous term as vice president. Before his presidency, Ford was a U.S. Representative and later the Vice President under Richard Nixon. His presidency was marked by the end of the Vietnam War and the aftermath of the Watergate scandal. more

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“In the past six months, our federal government has devised a dozen strategies to save America's financial markets. Each plan has been more costly, more risky, and less aligned with the principles of our country's free market economy than the last. I am disappointed to say that this latest plan puts all the rest of them to shame.”

“Wall Street got drunk and now it's got a hangover. And the question is, how long will it sober up and not try to do those fancy financial instruments?”

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Author:George W. Bush

“In an ideal world, one populated by vegetarians and Esperanto speakers, derivatives would be used for one thing only: reducing levels of risk. The list of individual traders who have lost more than a billion dollars at a time betting on derivatives is not short.”

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“The City is, in terms of its basic functioning, a far-off country of which we know little.”

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Book:I.O.U.: Why Everyone Owes Everyone and No One Can Pay

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“It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade. The worst have failed; investors no longer fund them and are not likely to in the future.”

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Author:Alan Greenspan

“Usually God favours the people who try to do good. So, when you find that the crowd is desperately trying to sell, help them and buy. When you find that the crowd is overenthusiastically trying to buy, help them and sell. It usually works out.”

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Author:John Templeton

“Never ask a trader if he is profitable: you can easily see it in his gesture and gait.”

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Book:Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets

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“What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn't be taking it to those who are willing to and are capable of doing so.”

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“In our view, derivatives are financial weapons of mass destruction carrying dangers that, while latent, are potentially lethal.”

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“Teddy Roosevelt... once said, 'Speak softly and carry a big stick.' Jimmy Carter wants to speak loudly and carry a fly swatter.”

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Author:Gerald R. Ford