14 Wise Quotes About Money

In this week's post, columnist Jeff Brown, MD, shares 14 wise quotes about money, investing, and life.

• “Never buy anything from someone who is out of breath.” - Burton Malkiel, author of “A Walk Down Wall Street”

• “Investing outcomes aren’t certain; Fees are.” - Many have said this, too few have listened.

• “Stock prices are not about the present, they are about the future.” - Said by many explaining a root of speculation

• “Always remember that the first offer isn’t what the seller has in mind, either.” - Wishes to remain anonymous

• “As long as there is more money to be made in vice than divestment, divestment will be a long shot.” - Kristen Capps/CityLab.com. Further, “Not only do ‘sin’ stocks outperform ethical funds, research has shown that selling stocks in alcohol, tobacco, and firearms makes them a bargain for less civic-minded investors who then get the higher returns.”

• In all service businesses, including medicine, the organization’s “…primary assets walk out the door each night.” - Forbes Magazine. “Employee morale and its corollary, retention, are a key to success.”

• “The essential quality of a market system is not that it promotes greed, but that it renders greed harmless.” - Israel Kirzner

• “Good judgement comes from experience. Experience comes from bad judgement.” - Mullah Nasrudin

• “The most expensive piece of medical equipment is the doctor’s pen.” - Atul Gawande. All too often docs do not, individually and collectively, take responsibility for the often unnecessarily high total cost of healthcare. In part because, so far, supply drives demand and not vice-versa.

• “Investors should never try to catch a falling knife.” - Wall Street Wisdom about buying a fast-dropping stock “bargain” without looking at the reason why it is dropping.

• “Financial planning isn’t just about finances. It’s about feelings and emotions.” - All wise financial planners know this…

• “Always buy hard assets below replacement cost.” - John Schreiber, Billionaire. Listen to him.

• “Never say no. Don’t ever stop earning. There is never enough.” - No, not The Donald, but George Foreman.

• “It sure would be nice to have the first $25 million, but I’m not sure why I’d need the second $25 million.” - What?! See above…