Richard Edelman Quotes

Anything that gets people to think harder about their financial security and take some responsibility is a good thing.

It is madness to make fortune the mistress of events, because by herself she is nothing and is ruled by prudence.

I have a million dollars in the stock market, because if I lose a million dollars, I don't personally care.

My first business deal was with my mother. I invested in chickens. I sold the eggs to my mother.

One of the great responsibilities that I have is to manage my assets wisely, so that they create value.

If my businesses or my investments are not profitable, then I don't eat. And I like to eat.

When our family business separation was implemented, as the eldest member of the family, I had taken the entire burden of the debts. I believe, it was my mistake to have told myself that, 'Subhash, you can earn and repay the creditors.'

Far too many of my peers were taken in by the jet-setting rock star lifestyle and didn't realise the money might not last forever - but I have always had an eye on the future and invest in a syndicate to share risk.

One can't be a successful investor without a healthy dose of confidence. To commit your own and others' hard-earned capital requires conviction, and conviction requires confidence. But as with fine brandy or coffee ice cream, too much of a good thing can be problematic.

Do not go out first thing after signing a contract and buy assets that are huge compared to the contract signed. Just because you have money for the first time doesn't mean you have to spend it before you know all the ramifications of buying the assets.

You could lose hundreds or thousands one day on paper and gain it all back the next, and it has literally no effect on your immediate future, provided the money you have in the market is money you're investing for the long haul (meaning at least three to five years).

Too many people say to their brokers, I can't deal with this. Take my money. Do what you want. That's the worst attitude you can have.

As a new entrepreneur, you need a stake in the game, but you can't risk it all.

I know where I'm putting my money.

If your investing approach requires that you become Nostradamus to succeed, then you are destined to fail.

I don't take investment advice from wealth managers. I have grown several businesses from scratch and amassed many millions from my publishing empire - why would I take advice from someone who has never experienced that?

I have some assets that over time will be worth something. I've been in the process of selling others.

The key, of course, is to stay away from the losing years.

My family and I have been blessed with good fortune in the world of business. We've created quite a net worth. My children, two boys, have more money than they will ever need, and they aren't empire builders.

Of course, bankers were always interested in making money. But when bankers had clients, they bore some responsibility for the clients' welfare.

One way to mitigate our risk is to invest in companies with understandable business models.

History has proven time and again that downturns are the best time to invest in new start-ups. You get good deals and find a better environment for start-ups to grow.

Anytime I hear that somebody's really rich, the first question is, 'Do you do anything with it? Or do you, like, chill? You just sit on it?'

I like not to feel that all my eggs are in one basket, or I get nervous.

Money is my military, each dollar a soldier. I never send my money into battle unprepared and undefended. I send it to conquer and take currency prisoner and bring it back to me.