It pays to write down your plan. You need to know exactly under what conditions you will enter and exit a trade. Do not make decisions on the spur of the moment, when you are vulnerable to being sucked into the crowd. Plans are created by reasoning individuals. Impulsive trades are made by sweaty group members.
- Alexander Elder - Topics: Trader, Stock Market.
The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
- Friedrich A. Hayek - Topics: Economist.
In the long run, inflation comes to an end with the breakdown of the currency.
- Ludwig von Mises - Topics: Inflation.
The correct conclusion in my view is that we need to be pre-emptive in avoiding these types of problems in the future. Monetary policy should not be aimed at cleaning up a mess, but leaning against the wind to avoid the mess in the future.
- Stephen Roach - Topics: Monetary Policy.
Taxation is theft, purely and simply.
- Murray N. Rothbard - Topics: Tax.
Everyone has the brainpower to follow the stock market. If you made it through fifth-grade math, you can do it.
- Peter Lynch - Topics: Stock Market.
No very deep knowledge of economics is usually needed for grasping the immediate effects of a measure; but the task of economics is to foretell the remoter effects, and so to allow us to avoid such acts as attempt to remedy a present ill by sowing the seeds of a much greater ill for the future.
- Ludwig von Mises - Topics: Monetary Policy, Economist.
When confidence goes, the end is very near. It always comes faster than anyone expects and it always seems to be unexpected.
- John Mauldin - Topics: Debt, Default.
When the market deviates from your analysis, you have to cut losses without fuss or emotions.
- Alexander Elder - Topics: Money Management, Trader.
I don't believe we shall ever have a good money again before we take the thing out of the hands of government, that is, we can't take them violently out of the hands of government, all we can do is by some sly roundabout way introduce something that they can't stop.
- Friedrich A. Hayek - Topics: Banking System, Central Bank, Cryptocurrency, Government.
The US has 75 trillions of unpaid for liabilities in a 15 trillion economy. How are we ever going to be pay for it? It's a number that cannot happen. So I don't worry about it. The far more interesting question is: what happens at the moment we realise that we can't pay 75 trillion?
- John Mauldin - Topics: Debt, Default, Government.
Ask five economists and you'll get five different explanations - six if one went to Harvard.
- Edgar R. Fiedler - Topics: Economist.
