„If you want to understand financial markets, and their effects on the economy, you have to understand the trading game. Many short-term price movements are neither random nor caused by economic fundamentals. They're caused by investors buying and selling.“

Quelle: The Poker Face of Wall Street (2006), Chapter 1, The Art of Uncalculated Risk, p. 12

Übernommen aus Wikiquote. Letzte Aktualisierung 3. Juni 2021. Geschichte
Aaron C. Brown Foto
Aaron C. Brown15
American financial analyst 1956

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Didier Sornette Foto

„Since it is the actions of investors whose buy and sell decisions move prices up and down, any deviation from a random walk has ultimately to be traced back to the behavior of investors.“

—  Didier Sornette French scientist 1957

Quelle: Why Stock Markets Crash - Critical Events in Complex Systems (2003), Chapter 4, Positive Feedbacks, p. 81

Michael Lewis Foto
Karl Polanyi Foto

„Market economy implies a self-regulating system of markets; in slightly more technical terms, it is an economy directed by market prices and nothing but market prices.“

—  Karl Polanyi, buch The Great Transformation

The Great Transformation (1944), Ch. 4 : Societies and Economic Systems

Benjamin Graham Foto

„Whenever the investor sold out in an upswing as soon as the top level of the previous well-recognized bull market was reached, he had a chance in the next bear market to buy back at one third (or better) below his selling price.“

—  Benjamin Graham American investor 1894 - 1976

Quelle: The Intelligent Investor: The Classic Text on Value Investing (1949), Chapter II, The Investor and Stock-Market Fluctuations, p. 35

Henry Rollins Foto
Ben Bernanke Foto
Keanu Reeves Foto
William Ewart Gladstone Foto

„Economy is the first and great article (economy such as I understand it) in my financial creed.“

—  William Ewart Gladstone British Liberal politician and prime minister of the United Kingdom 1809 - 1898

Letter to his brother Robertson of the Financial Reform Association at Liverpool (1859), as quoted in Gladstone as Financier and Economist (1931) by F. W. Hirst, p. 241
1850s
Kontext: Economy is the first and great article (economy such as I understand it) in my financial creed. The controversy between direct and indirect taxation holds a minor, though important place.

Zig Ziglar Foto
Steve Keen Foto

„If financial markets aren't efficient, then what are they? According to the 'fractal market hypothesis', they are highly unstable dynamic systems that generate stock prices which appear random, but behind which lie deterministic patterns.“

—  Steve Keen Australian economist 1953

Quelle: Debunking Economics - The Naked Emperor Of The Social Sciences (2001), Chapter 11, Finance And Economic Breakdown, p. 243

Benjamin Graham Foto
Benjamin Graham Foto

„The intelligent investor is a realist who sells to optimists and buys from pessimists.“

—  Benjamin Graham, buch The Intelligent Investor

Quelle: The Intelligent Investor: The Classic Text on Value Investing (1949), Chapter II, The Investor and Stock-Market Fluctuations, p. 31
Kontext: Why could the typical investor expect any better success in trying to buy at low levels and sell at high levels than in trying to forecast what the market is going to do? Because if he does the former he acts only after the market has moved down into buying levels or up into selling levels. His role is not that of a prophet but of a businessman seizing clearly evident investment opportunities. He is not trying to be smarter than his fellow investors but simply trying to be less irrational than the mass of speculators who insist on buying after the market advances and selling after it goes down. If the market persists in behaving foolishly, all he seems to need is ordinary common sense in order to exploit its foolishness.

Warren Buffett Foto
George W. Bush Foto
Ernesto Che Guevara Foto
Joanna Newsom Foto

„You don’t want to be
down in the trenches,
remembering with me,
where you will not mark my leaving,
and you will not hear my parting song.
Nor is there cause for grieving.
Nor is there cause for carrying on.“

—  Joanna Newsom American musician 1982

Anecdotes
Divers https://en.wikipedia.org/wiki/Divers_(Joanna_Newsom_album) (2015)
Kontext: In the folds and the branches,
somewhere, out there,
I was only just born into open air.
Now hush, little babe.
You don’t want to be
down in the trenches,
remembering with me,
where you will not mark my leaving,
and you will not hear my parting song.
Nor is there cause for grieving.
Nor is there cause for carrying on.

Václav Klaus Foto
Paulo Coelho Foto

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