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Quote by Hendrith Vanlon Smith Jr, CEO of Mayflower-Plymouth

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Hendrith Vanlon Smith Jr, CEO of Mayflower-Plymouth

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“If you are going to be a lifelong buyer of food, you welcome falling prices and deplore price increases. So should it be with investments.”

Value InvestingWarren BuffettCharlie MungerBerkshire Hathaway
Book:University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting
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“Equity market investments are not risky at all. But people opt riskier ways to meet their goal for wealth maximization through stocks, and this results in wealth deterioration rather than creation. Either by investing directly in stocks or listing their companies in the stock market, almost every billionaire has been able to create enormous wealth. Then how can the stock market be risky? The path opted by retail investors is often risky and not the market.”

InvestmentInvestingStock MarketValue InvestingShare Market
Book:STOCK MANTHAN : The Hunt for Multi-Bagger Stocks
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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage.”

DemocracyFiscal PolicyFederal Spending
Author:Alexander Fraser Tytler
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“Thank you. Since we decided a few weeks ago to adopt the leaf as legal tender, we have, of course, all become immensely rich. [...] "But we have also," continued the management consultant, "run into a small inflation problem on account of the high level of leaf availability, which means that, I gather, the current going rate has something like three deciduous forests buying on ship's peanut." [...] "So in order to obviate this problem," he continued, "and effectively revalue the leaf, we are about to embark on a massive defoliation campaign, and...er, burn down all the forests. I think you'll all agree that's a sensible move under the circumstances.”

Fiscal Policy299
Book:The Ultimate Hitchhiker’s Guide to the Galaxy
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