On bub­bles.

Forbes - - CONTENTS -

“It amazes me how peo­ple are of­ten more will­ing to act based on lit­tle or no data than to use data that is a chal­lenge to as­sem­ble.” —robert J. SHILLER

“Crowds ex­hibit a docile re­spect for force, and are but slightly im­pressed by kind­ness—which for them is scarcely other than a form of weak­ness.” —Gus­tave Le Bon

“I can cal­cu­late the move­ment of stars, but not the mad­ness of men.” —Isaac new­ton

“The main pur­pose of The stock mar­ket is To make fools of as many men as pos­si­ble.” —Bernard Baruch

“the four most ex­pen­sive words In the english lan­guage are ‘this time It’s dif­fer­ent.’ ” —John tem­ple­ton

“Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only re­cover their senses slowly, one by one.” —Charles Mackay

“Spec­u­la­tion buys up, in a very prac­ti­cal way, the in­tel­li­gence of those in­volved.” —John ken­neth GALBRAITH

“Bull mar­kets are Born On pes­simism, grow On Skep­ti­cism, ma­ture On Op­ti­mism and die On eu­pho­ria.” —DAVID skar­ica

“Over the short run, the fun­da­men­tals are of­ten over­whelmed by the deaf­en­ing noise of spec­u­la­tion.” —John C. BOGLE

“It’s a ba­sic fact of life that Many things ‘ev­ery­body knows’ turn out to be wrong.” —JIM rogers

“You can get in way more trou­ble with a good idea than a bad idea, be­cause you for­get that the good idea has lim­its.” —Ben­jamin Gra­ham

“The days of pun­ish­ment are com­ing; The days of reck­on­ing are at hand. Be­cause your sins are so many and your hos­til­ity so great, The prophet is con­sid­ered a fool, The in­spired per­son a ma­niac.” —Hosea 9:7

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