3 Quotes Tagged: bubbles

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As protection against financial illusion or insanity, memory is far better than laws...For protecting people from the cupidity of others and their own, history is highly utilitarian. It sustains memory, and memory serves the same purpose as the SEC, and on the record is far more effective

John Kenneth Galbraith, Canadian-American economist and diplomat (1908–2006)

bubbles investing-quotes

Our goal is more modest: We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.

A valuation, which is established as the outcome of the mass psychology of a large number of ignorant individuals is liable to change violently as the result of a sudden fluctuation of opinion due to factors which really do not make much difference . . . since there will be no strong roots of conviction to hold it steady.