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“A price decline is of no real importance to the bona fide investor unless it is either very substantial say, more than a third from cost or unless it reflects a known deterioration of consequence in the company's position. In a well-defined bear market many sound common stocks sell temporarily at extraordinary low prices. It is possible that the investor may then have a paper loss of fully 50 per cent on some of his holdings, without any convincing indication that the underlying values have been permanently affected.”

“My experience with being on a record label over the years has been when both of your agendas are in sync, and they're the same goal, it's great to have another army of people and resources and money. But most of the time, they're not the same. Their agenda is just simply to sell plastic discs at any cost, and yours is to preserve - at least in my case - your integrity, and hopefully sell some plastic discs, too.”

“People seldom read a book which is given to them; and few are given. The way to spread a work is to sell it at a low price. No man will send to buy a thing that costs even sixpence without an intention to read it.”

“J.P. Morgan once had a friend who was so worried about his stock holdings that he could not sleep at night. The friend asked, 'What should I do about my stocks?' Morgan replied, 'Sell down to your sleeping point' Every investor must decide the trade-off he or she is willing to make between eating well and sleeping well. High investment rewards can only be achieved at the cost of substantial risk-taking. So what is your sleeping point? Finding the answer to this question is one of the most important investment steps you must take.”

“Availability of the best also is limited in our culture. And it's also extremely expensive. It's ridiculous. A kilogram of rose oil costs me very much. By the time it is shipped here and we pay tariffs, how much more do I have to charge the consumer? And then who could afford to buy it? That is why people sell synthetic rose and end up poisoning themselves. It shouldn't be that way.”

“I often get the question from people, "well how can you sell luxury at that price?" What I'm explaining to everyone is I'm still paying the same factory cost as I paid when they were $800. I pay the same as my competitors who are in the luxury space pay, I just don't mark them up as much because I haven't put them in a wholesale channel. I don't have to put that extra margin on them.”

“[The U.S. Treasury] can borrow basically unlimited amounts. They can stay there for years and years. These assets will be worth more money over time. So when Merrill Lynch sells a bunch of mortgage-related assets at 22 cents on the dollar like they did a month or so ago, the buyer goes - is going to make money, and he's going to make a lot more money if it happens to be an institution like the U.S. government which has very, very cheap borrowing costs.”

“It is irrational to charge high prices for socially valuable innovations as this guarantees that they will be underutilized. It is much better to sell them at cost and then to reward the innovator in some other way. This is not always possible, because in some cases the value of an innovation is in the eye of the beholder; it's very difficult to value how much a new Madonna song is worth, for example. But in the case of medicines, green technologies and seeds in agriculture, such an alternative reward mechanism is fairly straightforward.”

“Printing and transporting paper is very expensive, and e-books eliminate the expensive four-color printing, the higher quality paper, the ocean shipping, the customs clearance, the inventory, answering the telephone, writing up the orders, picking, packing and shipping and managing all of these functions. So we eliminate a huge number of costs and the chance that those books won't sell.”

“Life has loveliness to sell, All beautiful and splendid things, Blue waves whitened on a cliff, Soaring fire that sways and sings, And children's faces looking up, Holding wonder like a cup. Life has loveliness to sell, Music like a curve of gold, Scent of pine trees in the rain, Eyes that love you, arms that hold, And for your spirit's still delight, Holy thoughts that star the night. Spend all you have for loveliness, Buy it and never count the cost; For one white singing hour of peace Count many a year of strife well lost, And for a breath of ecstasy Give all you have been, or could be.”