Jim Bouton Quotes

There's more honor in investment management than in investment banking.

I'm not proud of this at all, but I'm someone who has relied on business managers and accountants and career managers to run the whole bureaucratic side of my life for the last 16 years, so anything, from filing tax returns to paying credit card statements, is something that I feel rather fortunate to have been out of the loop on.

A vast industry of stockbrokers, financial planners, and investment advisers skims a fortune for themselves off the top in exchange for passing their clients' money on to people who, as a whole, cannot possibly outperform the market.

Until 'Scrubs,' I didn't have a business manager. I learned everything on my own - and I learned the hard way.

During my undergraduate training at UCLA, I was studying finance and securities; my particular interest was with mutual funds. Wanting to get into a high position at some of the companies that were doing that, I knew that law would be useful.

As professional athletes, we get pitched business or investment opportunities all the time, wherever we are.

It's weird to think about money and all that other stuff. I really just want to play football.

The way I've always governed my life as far as fiscal policy goes is I'm smart enough to know that I'm dumb about it, so I surround myself with smart people in much the same way a hole surrounds itself with a doughnut. I just pay things off. That's all I do.

If anything is evident about people who manage money, it is that the task attracts a very low level of talent, one that is protected in its highly imperfect profession by the mystery that is thought to enfold the subject of economics in general and of money in particular.

The more money you have to work with, the more people you have to deal with that you probably don't want to be spending time dealing with.

Money is very difficult to think about. So, we think about money as the opportunity cost of money. So, we at some point went to a Toyota dealership and we asked people, what will you not be able to do in the future if you bought this Toyota? Now, you would expect people to have an answer. But people were kind of shocked by the question. They never thought about it before. So, the most we got was people said, "Well, if I can't buy this Toyota, if I buy this Toyota, I can't buy a Honda." What is this thing? What is this value of price? Very hard to think about it.

Poor people choose now. Rich people choose balance.

When I first got money, I went through it like everybody else, because I didn't know. But, right now, I've educated myself and placed smart people around me. I surrounded myself with people who not only are intelligent and effective about finances, taxes, and money management, but they (also) love me.

Riches are for spending.

Rich people take advice from people who are richer than they are. Poor people take advice from their friends, who are just as broke as they are.

The secret of the difficulties of those people who make a great deal of money, and yet are always in want of it, is this-they throw it away as soon as they get it on the first whim or extravagance that strikes them, and have nothing left to meet ordinary expenses or discharge old debts.

The news is a public service. It's a way to inform people of what's going on in their world. And when you make it about ratings and make it about ad dollars, there's no incentive to inform people. The incentive is to be sensationalistic and get as many people to watch as you can without any regard for truth or objectivity.

He's a fool that makes his doctor his heir.

Equity mutual funds are the perfect solution for people who want to own stocks without doing their own research.

Wall Street is at best ambivalent. The size of the accounts is nothing big. How many Wall Street firms do you know that are running after people with $5,000 accounts?

People will make worse financial decisions for them if they're choosing from a lot of options than if they're choosing from a few options. If they have more options they're more likely to avoid stocks and put all their money in money market accounts, which doesn't even grow at the rate of inflation.

It's money. I remember it from when I was single

I'm also not good with numbers either, so it's not a great mix. People apparently don't want you ball-parkin' it when it comes to their finances.

Rich people always have a certain degree of debt. Apparently it helps to reduce taxes. I'm not so hot on the bean-counting side.

Millionaires don't have astrologers, billionaires do.