Money is a terrible master but an excellent servant.

Money is a terrible master but an excellent servant.

Each man is the smith of his own fortune.

Each man is the smith of his own fortune.

Whales only get harpooned when they come to the surface, and turtles can only move forward when they stick their read more

Whales only get harpooned when they come to the surface, and turtles can only move forward when they stick their neck out, but investors face risk no matter what they do.

Perhaps the most widespread misunderstanding of economics is that it applies solely to financial transactions. Frequently this leads to statements read more

Perhaps the most widespread misunderstanding of economics is that it applies solely to financial transactions. Frequently this leads to statements that "there are noneconomic values" to consider. There are, of course, noneconomic values. Indeed, there are only noneconomic values. Economics is not a value itself but merely a method of trading off one value against another.

There are two things needed in these days; first, for rich men to find out how poor men live; and read more

There are two things needed in these days; first, for rich men to find out how poor men live; and second, for poor men to know how rich men work.

A rich man is nothing but a poor man with money.

A rich man is nothing but a poor man with money.

Ask five economists and you'll get five different answers (six if one went to Harvard).

Ask five economists and you'll get five different answers (six if one went to Harvard).

Few women care to be laughed at and men not at all, except for large sums of money.

Few women care to be laughed at and men not at all, except for large sums of money.

It's not the bulls and bears you need to avoid -- it's the bum steers.

It's not the bulls and bears you need to avoid -- it's the bum steers.