Financial Mistakes Quotes

Sunk costs? We pay too much attention to them.

Since those don’t hit financial reports, the opportunities you had but didn’t accept, most people don’t bother thinking about them very much. At least that is a mistake we don’t make. We rub our own noses in our mistakes in blowing opportunities, as we just did.

If economists were doctors, they would today be mired in malpractice suits.

Many investors make the mistake of buying high and selling low while the exact opposite is the right strategy.

… they made the cardinal error of extrapolation. Forecasters assumed that recent trends would continue indefinitely and that hot economies would stay hot…. Euphoria overcame sound judgment, a process that has doomed economic forecasting for as long as experts have been doing it.

Most investors want to do today what they should have done yesterday.

When we have money, we start making mistakes.

When I bought my first house I had all these red flags on my credit report because I bounced a bunch of checks to places like Pizza Hut and stuff like that for $13 or $15 because I was trying to feed my O-linemen.

More investment sins are probably committed by otherwise quite intelligent people because of "tax considerations" than from any other cause. One of my friends-a noted West Coast philosopher-maintains that a majority of life's errors are caused by forgetting what one is really trying to do. This is certainly the case when an emotionally supercharged element like taxes enters the picture (I have another friend-a noted East Coast philosopher who says it isn't the lack of representation he minds-it's the taxation).

You could have all the money in the world, but you have to be smart enough knowing how to spend it. I really try to be on that smart money side. Once you make a serious mistake you can suffer five or six years, and I do my best to avoid serious mistakes.

We don't know what's around the corner - and we must do everything to ensure we get our country's debts down, building our resilience so we don't repeat the mistakes of the past.

What happens during recessions, is you have less windfalls just helping you cover mistakes. You have to be more careful about not making mistakes.

None of us always make the best financial decisions.

When I do something stupid with money and lose it....I call that Stupid Tax. I have paid so much Stupid Tax that I am expert.

I learned how to lend money by cleaning up the messes of others who had made loans before me.

There are tons of examples of U.K. and European mistakes. A classic one is pensions. That's obviously not an America-specific thing. The British and European economies are suffering under the weight of what is to come. The next great Ponzi scheme after Madoff is probably pensions.

I have made lots of mistakes in terms of contracts and spending money when I shouldn't have spent money.

Everybody blows their first money.

What you really remember at the beginning was that you have to throw a budget together. We made some terrible mistakes at the beginning in my own budget that took us at least a year to catch up on.

A fool and his money be soon at debate

We had so many friends who did the band thing, and one of their first moves was to go on tour, and they'd just blow all their money.

A fool and his money are soon invited everywhere.

The people who generated great personal wealth in the process of creating this mess [the Great Recession]—bankers and financiers who invented products like mortgage-backed securities and credit default swaps—are now actively eschewing any responsibility for that problem by blaming the state for their mistakes.

TNA has had a lot of great periods - Hulk Hogan even came in, but I don't think he was beneficial to TNA. They spent a lot of money on him, but made a lot of mistakes. They should have saved that money for me.

It's almost worth the Great Depression to learn how little our big men know.