John Kenneth Galbraith Quotes

I can't recall ever once having seen the name of a market timer on Forbes' annual list of the richest people in the world. If it were truly possible to predict corrections, you'd think somebody would have made billions by doing it.

The trend of the market is up, not down. Shorting stocks puts you against that trend and thus makes it more difficult to make money.

Certainly there are bubble-like valuations of certain companies, but I don't think anyone out there believes that we're going to go back to doing business the way we used to do business.

The upward move at the beginning of a bull market is almost always huge compared with the vacillations late in the bear market. If you try to pick a bottom, you will miss a good part of the action.

Predicting the market is always tough.

Successful investing is anticipating the anticipations of others.

Markets are frequently ahead of, and often out of sync with, the economy.

The man I respect the most in the business - and he's in the hedge fund business - is probably Stan Druckenmiller. He's just so smart and so good and so up on everything. I think he's fantastic investor.

People always come up to me and ask what the next 'big short' will be. The truth is I simply do not have an answer, and do not want to have an answer, to this question.

Entire populations of market strategists, fund managers, and economists are employed to try and intuit for clients which securities to bet on for the best possible return each year - or quarter.

FISHER SEES STOCKS PERMANENTLY HIGH

Economists don't usually make good speculators, because they think too much.

More money is lost anticipating the changes in the overall stock market than any other way of investing.

In the financial markets I find it easy to predict what will happen and very difficult to predict when it will happen. I think that things were clear during the bubble as to what would happen eventually.

I'm not sure most of the people that get caught up in the middle of a bubble can be described as irrational. It seems pretty rational to buy a house and flip it in the next few weeks at a profit when that's been happening for along time.

The stock market has predicted nine of the last five recessions.

The distinction between investment and speculation in common stocks has always been a useful one and its disappearance is cause for concern.

Nearly everyone interested in common stocks wants to be told by someone else what he thinks the market is going to do. The demand being there, it must be supplied.

Always remember that market quotations are there for convenience, either to be taken advantage of or to be ignored.

There are two kinds of investors, be they large or small: those who don't know where the market is headed and those who don't know what they don't know. Then again, there is a third type of investor: the investment professional, who indeed knows he doesn't know, but whose livelihood depends upon appearing to know.

I never try to predict the market.

You can't make money with a consensus accurate prediction.

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.

It is ludicrous to believe that asset bubbles can only be recognized in hindsight.