Bernard Baruch Quotes
I never lost money by turning a profit.
Baruch, Bernard M. Baruch: My Own Story. Henry Holt and Company, 1957, p. 254.
He had been told that the Air Force was planning to buy to ne, next generation planes for use as Air Force One for the President and that the price tag was to be $4 Billion. He thought that price exhorbetent, and this quotation came from one of his Tweets.
After amassing a fortune on the New York Stock Exchange, he impressed President Woodrow Wilson by managing the nation's economic mobilization in World War I as chairman of the War Industries Board. He advised Wilson during the Paris Peace Conference. He made another fortune in the postwar bull market, but foresaw the Wall Street crash and sold out well in advance. In World War II, he became a close advisor to President Roosevelt on the role of industry in war supply, and he was credited with greatly shortening the production time for tanks and aircraft. Later he helped to develop rehabilitation programs for injured servicemen. In 1946, he was the United States representative to the United Nations Atomic Energy Commission, though his Baruch Plan for international control of atomic energy was rejected by the Soviet Union.