Andy Kessler Quotes

Think about it- the King James Bible took religion out of the hands of the high priests and put it in to the hands of the people. An entire generation became literate just to be able to read the King James version of the Bible.

but then I remembered how crass it is to talk money or stocks with university types.

I think what I learned is that wealth comes not just from taking risk but from constantly taking risks.

Stocks are a voting mechanism, pure and simple. They are a collective vote of expectations of each company's future fundamentals.

A product lowers the cost of doing something and eventually, customers will figure this out and buy the stuff in big volume, but they're not going to buy yet. You've got to have real conviction to step up and own this kind of company-you're staring over the edge of the waterfall, not sure when the growth is going to start.

Economists may insist we are running a trade deficit, but in reality, we are running a margin surplus.

You can't ever forget how precarious and humbling running money really is.

When someone pukes up a stock, it's not hard to miss. Mispriced securities all over the table. And we are there with a barf bag, collecting all we can.

By the way, I love paradoxes.They usually mean someone doesn't understand what's really going on and you can invest in things other people "can't know." I start salivating when I hear that word paradox.

But someone knew and made a killing. It was investing when you know something no one else knows.

Our portfolio was more of a Roach Motel-stocks came in and never left. This was exciting.

Give me a big enough sandbox to play in, and I'll find the part of it not being used as kitty litter.

You invest in companies with great long-term prospects.

But I was confused. Here we were scrambling around looking under rocks for great long-term investments, and every other hedge fund, or so it seemed, was doing some funny hedge of cheap yen money and T-bills. That's investing?

The stock of the greatest company in the world is crap if every investor already thinks it is the greatest company in the world.