Benjamin Graham Quotes

Wall Street people learn nothing and forget everything.

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

People who invest make money for themselves; people who speculate make money for their brokers. And that, in turn, is why Wall Street perennially downplays the durable virtues of investing and hypes the gaudy appeal of speculation.

Wall Street is populated by a bunch of people whose primary goal is to make money, and the rules are pretty much caveat emptor.

If you think Wall Street has a short memory, you're dead wrong. No, the folks who work on Wall Street, regulate Wall Street - and, above all, invest in its wares, notably its hedge funds - don't have a bad memory. They don't have any memory at all.

The stock market is the world’s largest Oujie Board.

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.

Wall Street. - The abode of the Brokers and the Broke.

There seems to be an unwritten rule on Wall Street: If you don't understand it, then put your life savings into it. Shun the enterprise around the corner, which can at least be observed, and seek out the one that manufactures an incomprehensible product.

Electrical fire and the fire of greed kindle economies. In that flux, nations become digitized commodities on stock-exchange floors and on investors' rating screens. A country becomes a product to be rated for its obedience to paying of deficits and debts.

The model used by Wall Street to price trillions of dollar's worth of derivatives thought of the financial world as an orderly, continuous process. But the world was not continuous; it changed discontinuously, and often by accident.

Wall Street got drunk and now it's got a hangover. And the question is, how long will it sober up and not try to do those fancy financial instruments?

Nothing important on Wall Street can be counted on to occur exactly in the same way as it happened before.

No one was responsible for the great Wall Street crash. No one engineered the speculation that preceded it. Both were the product of free choice and decision of hundreds of thousands of individuals.

Little-known fact: When the stock exchange closes, the guy who comes out on the balcony with that big hammer slams it on the head of the person who lost the most money that day.

I didn't think one day something would happen that would bring me back to Wall Street to write what is essentially a sequel.

Television series are like the stock market. There's room for bears and bulls but no room for pigs.

The memory of the financial community is proverbially and distressingly short.

I think what's happened is that the general public has become much more aware of the destructive power of Wall Street.

Especially from my experience as a quant in a hedge fund - I naively went in there thinking that I would be making the market more efficient and then was like, oh my God, I'm part of this terrible system that is blowing up the world's economy, and I don't want to be a part of that.

Do you have any idea how cheap stocks are? Wall Street is now being called Wall Mart Street

I don't know if you heard the news, but Wall Street now is a farmer's market. I don't want to say things are going downhill quickly, but Obama's new campaign slogan is 'Are you better off than you were four days ago?'

If Wall Street crashes, does Main Street follow? Not necessarily.

A pin lies in wait for every bubble. And when the two eventually meet, a new wave of investors learns some very old lessons: First, many in Wall Street (a community in which quality control is not prized) will sell investors anything they will buy. Second, speculation is most dangerous when it looks easiest.

In Las Vegas, people know that the odds are stacked against them. On Wall Street, they manipulate the odds while you are playing the game.