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Speculators Quotes

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Speculators Quotes

“I found so many Jews and speculators here trading in cotton, and secessionists had become so open in refusing anything but gold, that I have felt myself bound to stop it. The gold can have but one use - the purchase of arms and ammunition... Of course, I have respected all permits by yourself or the Secretary of the Treasury, but in these new cases (swarms of Jews), I have stopped it.”

UseCoursesFoundFeltCasesArmsGoldBoundsJewPermitSecretaryTradingCottonTreasuryAmmunitionSwarmsSpeculators
Author:William Tecumseh Sherman
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“The reality is that the founding fathers were land speculators. The fact was that you couldn't vote in this country if you did not own land, and that was basically you had to be a white man who owned land. Now how did they get that land? They basically had to steal it from someone, and that would be probably the Indians. And so most of the initial founding fathers were, while they may have had some really nice ideas about democracy, they had a lot of issues with people of color. They had a lot of issues with people who held things that they coveted.”

PeopleIfsMenMayIdeasCountryFactsRealityWould BeFatherWhiteDemocracyIssuesNiceLandColorVoteStealingWhite ManFoundingInitialsReally NiceSpeculators
Author:Winona LaDuke
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“Nowhere does history indulge in repetitions so often or so uniformly as in Wall Street. When you read contemporary accounts of booms or panics, the one thing that strikes you most forcibly is how little either stock speculation or stock speculators today differ from yesterday. The game does not change and neither does human nature.”

HumansLittlesDoeTodayGamesOne ThingStreetsHuman NatureWallAccountsStrikesYesterdayContemporaryPanicRepetitionSpeculationIndulgeIndulge InSpeculators
Book:Reminiscences of a Stock Operator
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“The reader can test his own psychology by asking himself whether he would consider, in retrospect, the selling at 156 in 1925 and buying back at 109 in 1931 was a satisfactory operation. Some may think that an intelligent investor should have been able to sell out much closer to the high of 381 and to buy back nearer the low of 41. If that is your own view you are probably a speculator at heart and will have trouble keeping to true investment precepts while the market rushes up and down.”

IfsThinkingShouldHeartMayHas BeensAbleViewsPsychologyTroubleReaderLowsShould HaveTestsIntelligentAskingSellsInvestmentSellingOperationsBuyingInvestorsUp And DownShould Have BeenRetrospectSpeculators
Author:Benjamin Graham
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“At times like the present, when the evils of unsound finance threaten us, the speculator may anticipate a harvest gathered from the misfortune of others, the capitalist may protect himself by hoarding or may even find profit in the fluctuations of values; but the wage earner - the first to be injured by a depreciated currency and the last to receive the benefit of its correction - is practically defenseless.”

FirstsMayWisdomLastsValuesEvilPoliticsEconomyProtectBenefitsProfitFinanceLiberalismMisfortunesCapitalistCurrencyHarvestInjuredAnticipateProperty RightsCorrectionsHoardingDefenselessFluctuationSpeculatorsMisfortunes Of Others
Book:Special message, August 8th, 1893. Extract from third annual message, December 2nd, 1895
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“Ask yourself: Am I an investor, or am I a speculator? An investor is a person who owns business and holds it forever and enjoys the returns that U.S. businesses, and to some extent global businesses, have earned since the beginning of time. Speculation is betting on price. Speculation has no place in the portfolio or the kit of the typical investor.”

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Author:John C. Bogle
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“on Broadway money rules. Like a host of vultures, the ticket brokers, the speculators, the craft unions, the agents, the backers, the real estate owners move in on the creative body and take their bite. The world of dreams breathes in an iron lung; and without this mechanical pumping it dies.”

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Book:The New York I Know
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“In whatever system where the weight attached to the wheel should be the cause of motion of the wheel, without any doubt the center of the gravity of the weight will stop beneath the center of its axle. No instrument devised by human ingenuity, which turns with its wheel, can remedy this effect. Oh, speculators about perpetual motion, how many vain chimeras have you created in the like quest. Go and take you place with the seekers after gold.”

ShouldHumansTurnsCausesDoubtEffectsGoldWeightInstrumentsVainWheelsGravityQuestsPerpetualRemedySeekersIngenuitySpeculatorsChimeraPerpetual Motion
Author:Leonardo da Vinci
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“The most realistic distinction between the investor and the speculator is found in their attitude toward stock-market movements. The speculator's primary interest lies in anticipating and profiting from market fluctuations. The investor's primary interest lies in acquiring and holding suitable securities at suitable prices. Market movements are important to him in a practical sense, because they alternately create low price levels at which he would be wise to buy and high price levels at which he certainly should refrain from buying and probably would be wise to sell.”

ShouldImportantWould BeLyingFoundInterestLevelsAttitudeWiseSecurityMovementLowsSellsPracticalsPrimariesBuyingDistinctionRealisticInvestorsBeing WiseSuitableRefrainFluctuationHigh PricesSpeculators
Author:Benjamin Graham
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“Speculation in oil stock companies was another great evil ... From the first, oil men had to contend with wild fluctuations in the price of oil. ... Such fluctuations were the natural element of the speculator, and he came early, buying in quantities and holding in storage tanks for higher prices. If enough oil was held, or if the production fell off, up went the price, only to be knocked down by the throwing of great quantities of stocks on the market.”

IfsMenFirstsEnoughEvilNaturalCompanyHigherElementsProductionsOilBuyingThrowingQuantitySpeculationTanksStorageKnocked DownFluctuationSpeculatorsNatural ElementsBuying In
Author:Ida Tarbell
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“We are convinced that the intelligent investor can derive satisfactory results from pricing of either type (market timing or fundamental analysis via price). We are equally sure that if he places his emphasis on timing, in the sense of forecasting, he will end up as a speculator and with a speculator's financial results." And "The speculator's primary interest lies in anticipating and profiting from market fluctuations. The investor's primary interest lies in acquiring and holding suitable securities at suitable prices.”

IfsEndsLyingInterestResultsSecurityTypeIntelligentFundamentalsInvestingFinancialConvincedPrimariesAnalysisInvestorsTimingEmphasisSuitableFluctuationSpeculatorsPricingForecastingMarket TimingFinancial Results
Author:Benjamin Graham
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“You cannot do anything without rousing the masses to action. A plenary meeting of the Soviet must be called to decide on mass searches in Petrograd and the goods stations. To carry out these searches, each factory and company must form contingents, not on a voluntary basis: it must be the duty of everyone to take part in these searches under the threat of being deprived of his bread card. We can't expect to get anywhere unless we resort to terrorism: speculators must be shot on the spot. Moreover, bandits must be dealt with just as resolutely: they must be shot on the spot.”

ActionFormCompanyDutyMassShotsBasesThreatMeetingsTerrorismBreadCardsSpotsGoodsStationsSovietFactoriesResortsDeprivedSpeculatorsBandits
Author:Vladimir Lenin
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“We accept it as normal that people who have never been on the land, who have no history or connection to the country, may legally secure the right to come in and, by the very nature of their enterprises, leave in their wake a cultural and physical landscape utterly transformed and desecrated. What's more, in granting such mining concessions, often initially for trivial sums to speculators from distant cities, companies cobbled together with less history than my dog, the government places no cultural or market value on the land itself.”

PeopleMayCountryGovernmentTogetherValuesCitiesCompanyAcceptingEnvironmentLandDogNormalConnectionsEnvironmentalSecureLandscapeEnterpriseTransformedMy DogMiningConcessionsSpeculators
Author:Wade Davis
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“By the aristocracy of finance must here be understood not merely the great loan promoters and speculators in public funds, in regard to whom it is immediately obvious that their interests coincide with the interests of the state power. All modern finance, the whole of the banking business, is interwoven in the closest fashion with public credit.”

StatesWholeInterestModernFashionUnderstoodRegardObviousCreditFinanceFundClosestBankingLoanAristocracyPromotersSpeculators
Book:Karl Marx: Selected Writings
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“Speculators are obsessed with predicting: guessing the direction of stock prices. Every morning on cable television, every afternoon on the stock market report, every weekend in Barron's, every week in dozens of market newsletters, and whenever business people get together. In reality, no one knows what the market will do; trying to predict it is a waste of time, and investing based upon that prediction is a purely speculative undertaking.”

PeopleKnowsTryingRealityTogetherMorningWeekTelevisionWasteInvestingObsessedReportsAfternoonWasting TimeWeekendDozenEvery MorningPredictionsCablesUndertakingsGet TogetherGuessingPredictingSpeculatorsStock PriceNewsletters
Author:Seth Klarman
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“While no one wishes to incur losses, you couldn't prove it from an examination of the behavior of most investors and speculators. The speculative urge that lies within most of us is strong; the prospect of a free lunch can be compelling, especially when others have already seemingly partaken. It can be hard to concentrate on potential losses while others are greedily reaching for gains and your broker is on the phone offering shares in the latest "hot" initial public offering. Yet the avoidance of loss is the surest way to ensure a profitable outcome.”

WayHardLyingStrongWishLossShareProveBehaviorGainsHotPhonesOutcomesReachingUrgesLunchInvestorsOfferingCompellingInitialsProfitableExaminationAvoidanceProve ItBrokersSpeculatorsFree Lunch
Author:Seth Klarman
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“Frequent comparative ranking can only reinforce a short-term investment perspective. It is understandably difficult to maintain a long-term view when, faced with the penalties for poor short-term performance, the long-term view may well be from the unemployment line ... Relative-performance-oriented investors really act as speculators. Rather than making sensible judgments about the attractiveness of specific stocks and bonds, they try to guess what others are going to do and then do it first.”

TryingFirstsWellsMayLongDifficultTermLinesPoorViewsPerspectiveJudgmentPerformancesInvestmentLong TermInvestorsRelativeSensiblePenaltiesUnemploymentShort TermAttractivenessRankingSpeculators
Author:Seth Klarman
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“What's the best gamble in the world, right now? Its betting that Deutsche Bank stock is going to go down. Short sellers borrowed money from their banks to place bets that Deutsche Bank stock is going to go down. Now, it's wringing its hands and saying, "Oh the speculators are killing us." But it's Deutsche Bank and the other banks that are providing the money to the speculators to bet on credit.”

WorldHandsRight NowKillingCreditProvidingGambleBorrowedSellersBettingSpeculatorsBorrowed Money
Author:Michael Hudson
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“Our civilized world is nothing but a great masquerade. You encounter knights, parsons, soldiers, doctors, lawyers, priests, philosophers and a thousand more: but they are not what they appear - they are merely masks... Usually, as I say, there is nothing but industrialists, businessmen and speculators concealed behind all these masks.”

WorldBehindsThousandDoctorsSoldierPhilosopherLawyerEncountersMaskPriestsCivilizedBusinessmanKnightsConcealedMasqueradeSpeculators
Author:Arthur Schopenhauer
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