The Forces Of The Nineteenth Century Have

Speculators May Do No Harm As Bubbles On A Steady Stream Of Enterprise. But The Position Is Serious When Enterprise Becomes A Bubble On A Whirlpool Of Speculation. When The Capital Development Of A Country Becomes A By-product Of The Activities Of A Casino, The Job Is Likely To Be Ill Done.

Successful Investing Is Anticipating The Anticipations Of Others.

The Central Principle Of Investment Is To Go Contrary To The General Opinion, On The Grounds That If Everyone Agreed About Its Merits, The Investment Is Inevitably Too Dear And Therefore Unattractive.

The Numeric System Was Invented To Help Man To Put Order In The Chaos Of The World.

Economic Privation Proceeds By Easy Stages, And So Long As Men Suffer It Patiently The Outside World Cares Little.