Peter Thiel Quotes

We see that hyperactivity and reward areas are important when the bubble's rising. People getting caught up in it. We also see areas involving mentalizing, which means thinking about other people: Who's buying? Who's selling? Do they know something? We see emotional areas before the crash that indicate a sense of uncertainty or dread.

We escaped the last big bursting of a bubble - the dotcom bubble - with a relatively light U.S. recession. On that occasion, the world economy found its way back on track fairly quickly.

There's never been a good period of venture capital when prices weren't high.

The bubble, as investing phenomenon, has been well studied ever since the 17th-century tulip bulb frenzy. Its counterpart in bear markets is not well understood.

The main purpose of the stock market is to make fools of as many men as possible.

Bitcoins are not a real investment; they are bets inside a casino. If the price goes back up, don't be fooled. In the parlance of popping investment bubbles, it's something called a 'dead-cat bounce.' People who are desperate to keep the game going rush back in, hoping to bring the price back up, but it never lasts.

So many folks in the venture capital business are sheep that just want to follow the herd. They are momentum investors purchasing highly illiquid investments. That is a recipe for disaster.

There are two times in a man's life when he should not speculate [on the Stock Market]: when he can't afford it, and when he can.

That's the last thing on Earth you should think about... There's just a whole lot of things that aren't going to work for you. Figure out what they are and avoid them like the plague. And one of them is bitcoin... It is total insanity.

Bubbles are created when something positive is happening. People get over-enthusiastic about it and take the tide higher than it should go. The reality is bubbles are required to create an industry.

A hyperactive stock market is the pickpocket of enterprise.

In every stockjobbing swindle every one knows that some time or other the crash must come, but every one hopes that it may fall on the head of his neighbor, after he himself has caught the shower of gold and placed it in safety.

Speculator: One who bought stocks that went down.

While enthusiasm may be necessary for great accomplishments elsewhere, on Wall Street it almost invariably leads to disaster

Speculation is a hard and trying business, and a speculator must be on the job all the time or he'll soon have no job to be on.

A bubble in early-stage funding means maybe there's $300 million at work when maybe there should be $150, as opposed to a bubble in late-stage funding which means there's $20 billion at work when there should be $3.

The billionaire founder of investment firm Elliott Management was one of several investors who warned financial ministers in 2007 that a crack in the housing market could cause huge problems for the banking industry.

Just because a company's future is highly uncertain doesn't mean an investment in it is risky. In fact, some of the best potential investments are highly uncertain but have little risk of permanent capital loss.

Once in a blue moon, an entire industry is a good short.

Calling bitcoin volatile - it's a non-statement. Unregulated assets with unclear regulatory landscapes are always going to be volatile. That's what unregulated assets do.

I made a million, and I lost a million.

I've learned that things change. The whole boy band thing almost turned into a stock market crash.

There is scarcely an instance of a man who has made a fortune by speculation and kept it

In nine companies out of ten the factor of fluctuation has been a more dominant and important consideration in the matter of investment than has the factor of long-term growth or decline

Confusing speculation with investment is always a mistake.