Commentary

“You’ve got all these feelings. The stock doesn’t know you own it. The stock just sits there; it doesn’t care what you paid or the fact that you own it. Any feeling I have about the market is not reciprocated. I mean, it is the ultimate cold shoulder we are talking about here.” – Warren Buffett

“More money is lost anticipating the changes in the overall stock market than any other way of investing.” – Peter Lynch, Legendary Investor

“At the root of all financial bubbles is a good idea carried to excess.” – Seth Klarman, Baupost Group

“A national debt, if it is not excessive, will be to us a national blessing.” – Alexander Hamilton

“Beware a calm surface—you never know what lies beneath.” – Paula Hawkins, English Author

“A STRANGE GAME. THE ONLY WINNING MOVE IS NOT TO PLAY.” – WOPR System, from War Games (1983)

“All good stocks rise and keep rising, but not everything that is rising is a good stock.” – Thomas Phelps, Author

“They’re just the same thing over and over. We can’t help ourselves! And you and I can’t control it, stop it, slow it, or even ever so slightly alter it…” – Jeremy Irons in the film Margin Call, giving a private speech on economic booms and busts

“A rich man is nothing but a poor man with money.” – A.C. Fields, Actor