Warren Buffett Quotes
… a pin lies in wait for every bubble. And when the two eventually meet, a new wave of investors learns some very old lessons..
Warren Buffet, Industrialist and Financier, Berkshire Hathaway Chairman's Letters to Shareholders, 2000
Sourced by: Eigen's Political and Historical Quotations
Major bankers were not only clueless in the Meltdown of 2008 and the Great Recession that followed, but they were equally hapless in the Market Crash of 1929 and the Great Depression thereafter.
Stock brokers and investment banks who are supposed to provide professional investment advice generally tell their customers good news about a company, market sector, or the market in general, but rarely convey bad news even if they are aware of it. They will often protect their own accounts but not tell their customers what they know and what they honestly believe.
The great scholars were as wrong as everyone else about the Great Depression
He was one of the very few people who warned about the market crash of 1929 and the Great Depression.
Trump as a business man was notorious for setting up business deals where his partners would put up the money. If the enterprise failed the partners were at risk and lost their money while either did not or lost very little. If money was made, however, he took a large share. He not only did this many times but actually admitted it and bragged about his ability to do that. Incredibly enough he even extended this technique to his charity giving. The vast majority of the money he did good things with through his foundation came from other people. There were many years where he gave not a penny to his own foundation, but gave away and took the credit for what was done with other people’s money. The recipients of the foundations grants mostly assumed that Trump was being generous with his own money, and he never disabused them.
Warren Edward Buffett is an American investor, business tycoon, philanthropist, and the chairman and CEO of Berkshire Hathaway. He is considered one of the most successful investors in the world and has a net worth of over US$100.6 billion as of April 2021, making him the world's seventh-wealthiest person.
