Monday, January 5, 2015

Quotes About Finance

FLG ran across this Motley Fool article with 122 Things Everyone Should Know About Investing and the Economy.

Really liked this one regarding investing:
"In expert tennis, 80% of the points are won, while in amateur tennis, 80% are lost. The same is true for wrestling, chess, and investing: Beginners should focus on avoiding mistakes, experts on making great moves."
FLG also liked this one, which applies to finance and economics:
"We're all just guessing, but some of us have fancier math," writes Josh Brown. 

But of all the quotes, FLG like this the best because it applies pretty much to any field of human endeavor:
John Reed once wrote, "When you first start to study a field, it seems like you have to memorize a zillion things. You don't. What you need is to identify the core principles -- generally three to twelve of them -- that govern the field. The million things you thought you had to memorize are simply various combinations of the core principles." Keep that in mind when getting frustrated over complicated financial formulas.  

1 comment:

Andrew Stevens said...

I liked the article. My favorite was "When most people say they want to be a millionaire, what they really mean is 'I want to spend $1 million,' which is literally the opposite of being a millionaire."

 
Creative Commons License
This work is licensed under a Creative Commons Attribution-No Derivative Works 3.0 United States License.