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Archive for the ‘Economic’ Category

It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.

Smith, Adam

—Adam Smith

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Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.

Ayn Rand

—Ayn Rand

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Debt

Tis against some men’s principle to pay interest, and seems against other’s interest to pay the principle.

Franklin Ben

—Benjamin Franklin

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The taxpayer: someone who works for the federal government, but doesn’t have to take a civil service examination.

Reagan on Jumping Horse

—Ronald Reagan

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Remember that investments are never too high for you to begin buying or too low to begin selling.

Livermore, Jesse

—Jesse Livermore

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Adam Smith on Wealth

No complaint…is more common than that of a scarcity of money.

Smith, Adam

—Adam Smith, The Wealth of Nations

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There is a persistent overall tendency for equity to flow from the many to the few.  In the long run, the majority loses.  The implication for the trader is that to win you have to act like the minority.  If you bring normal human habits and tendencies to trading, you’ll gravitate toward the majority and inevitably lose.

Wall Street Celebration

—William Eckhardt, mathematician and famed trader

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