Erik Voorhees Quotes

When interest rates are low we have conditions for asset bubbles to develop, and they are developing at the moment. The ultimate asset bubble is gold.

Volatility is a symptom that people have no idea of the underlying value-that they have stopped playing the asset game. They're not buying because it's a company with certain attributes. They're buying because the price is rising. People are playing games not related to any concept at all of what the long-term value of the enterprise is. And they know it.

Nowhere does history indulge in repetitions so often or so uniformly as in Wall Street. When you read contemporary accounts of booms or panics, the one thing that strikes you most forcibly is how little either stock speculation or stock speculators today differ from yesterday. The game does not change and neither does human nature.

The bubble, as investing phenomenon, has been well studied ever since the 17th-century tulip bulb frenzy. Its counterpart in bear markets is not well understood.

Indeed, bull markets are fueled by successive waves of prior skeptics finally capitulating as their fears fade. Eventually, fear turns to euphoria, and that's the stuff of bubbles.

With such enormous bucks devoted to trading in oil and other commodities, the distortions that they cause have been exacerbated.

I don’t know why the Stock Market does what it does.

I think bubbles are things people see with 20/20 hindsight. If you look at any particular period where prices go up and then they go down, you will always find people who predicted that they would go down. Those are the people you pay attention to.

We never know what the Street is going to do with the funky trading.

Nothing ever surprises me about the market.

As I have said before, the daily machinations of the stock market are like a tale told by an idiot, full of sound and fury, signifying nothing.

I believe the only things that really matter in investing are the bubbles and the busts

There is nothing new in Wall Street. There can't be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again.

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

In rising financial markets, the world is forever new. The bull or optimist has no eyes for past or present, but only for the future, where streams of revenue play in his imagination.

Don't try to buy at the bottom and sell at the top. It can't be done except by liars.

Markets love volatility.

I can never predict what the markets will do. Sometimes it does the exact opposite of what I would have expected.

Markets are unforgiving, and sometimes they move for reasons we can't possibly foresee.

Most economists, when modeling market behavior, tend to sweep major fluctuations under the rug and assume they are anomalies. What I have found is that major rises and falls in prices are actually inevitable.

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.

The value of Bitcoin is astronomical, but the price goes all over the place as a million buyers and sellers try to figure out what that value is and how likely it is to manifest.

Bubbles are created when something positive is happening. People get over-enthusiastic about it and take the tide higher than it should go. The reality is bubbles are required to create an industry.

There is a lot of volatility in the digital asset market broadly, and certainly that is true in the bitcoin market. It's been true for XRP, and I think that's because these markets are very nascent.