In times like these, it’s important to remember there have always been times like these.
Paul Harvey
Investing in a stock simply because it’s done so well is like choosing to plant corn in October because your neighbor’s corn has grown so well since April.
Ron Muhlenkamp
Inflation is the one form of taxation that can be imposed without legislation.
Milton Friedman
Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.
Albert Einstein
I don’t think it is terribly hard to spot a bubble. … I’ve been doing this now for 50 years, and I’ve lived through a few bubbles, and I’ve seen bubble behavior. Almost every bubble is characterized by people saying about a certain asset or a certain asset class, ‘There is no price too high.’
Howard Marks