Bernard Baruch Quotes

Speculation leads you the wrong way. It allows you to put your emotions first, whereas investment gets emotions out of the picture.

The Stock Market is designed to transfer money from the Active to the Patient.

One of the most helpful things that anybody can learn is to give up trying to catch the last eighth - or the first. These two are the most expensive eighths in the world. They have cost stock traders, in the aggregate, enough millions of dollars to build a concrete highway across the continent.

One of the most helpful things that any body can learn is to give up trying to catch the last eighth - or the first. These two are the most expensive eighths in the world.

I never, ever, ever let emotion get in the way of an investment.

I believe - deeply and profoundly - that speculation is a loser's game.

There is always risk involved. You can't be a capitalist only when there are investment profits but then a socialist when you experience losses.

My two biggest lessons learned as a trader are take risks and get comfortable with taking losses and setbacks to help move you forward.

Speculation, in its broadest sense, is not an evil in itself, but the contrary, and relieves public distress far oftener than it creates it.

Success in investing doesn't correlate with I.Q. once you're above the level of 25. Once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing.

Though the principles of the banking trade may appear somewhat abstruse, the practice is capable of being reduced to strict rules. To depart upon any occasion from these rules, in consequence of some flattering speculation of extraordinary gain, is almost always extremely dangerous, and frequently fatal to the banking company which attempts it.

I have a saying: There are no brave old people in finance. Because if you're brave, you mostly get destroyed in your 30s and 40s. If you make it to your 50s and 60s and you're still prospering, you have a very good sense of how to avoid problems and when to be conservative or aggressive with your investments.

The disciplined approach to pursuing and selecting the most attractive investment opportunities continues to distinguish ExxonMobil. We are long-term driven, and we're patient. And we're not opportunity-constrained.

The first thing I heard when I got in the business - not from my mentor - was, 'Bulls make money, bears make money, and pigs get slaughtered.' I'm here to tell you I was a pig. And I strongly believe the only way to make long-term returns in our business that are superior is by being a pig.

Don't be buying out of emotion. Buy less if you love something but feel it's a risky item. We don't want overstock. And remember: No profit, no fun!

Eliminate emotion from your investment program.

We have never shied away from making investments. Even during downcycles, we never stopped our investments.

I play with leverage.

I've usually used the phrase 'stay the course' as one of the great rules of investment success.

I really don't spend my money that much unless I'm reinvesting in my business.

I bet on a lot of stuff that's low-priced, and most of it's going to go back down to zero. But some of it's going to go up.

I made a million, and I lost a million.

If the fluctuations in your investment portfolio are reduced, the impact of emotions and behavior on your account is also reduced.

Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy only when others are fearful.

There is very little difference between speculation and investment. The only difference is basically that investments are successful speculations because if you successfully anticipate the future you make a speculative profit.