- Harry S. Truman
Words to the Wise
“The US Economy is the humdrum name we give to the daily miracle of 151 million people getting out of bed in the morning to go to work. Astoundingly, a year after the nation dropped tools to lock down against the novel coronavirus, the sum total of this mass, diffused, constructive effort – the gross domestic product – has finally regained its $21 trillion per annum per-pandemic heights.”
– James Grant
“Bull markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria.” - Sir John Templeton
“There are two kinds of investors, be they large or small: those who don’t know where the market is headed and those who don’t know that they don’t know.”- William Bernstein11
“Everything in life, individually or socially, is a trade-off. We determine the risk levels we’re willing to tolerate.” - Roberton Merton14
“People do not decide their futures, they decide their habits and their habits decide their futures.” -F.M. Alexander
“A banker is a fellow who lends you his umbrella when the sun is shining and wants it back the minute it begins to rain.”-Mark Twain
“Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it.” -Albert Einstein
"As we head into 2018, we have the opportunity—and the responsibility—to expand our focus from traditional notions of financial inclusion to the broader goal of universal financial health. This means instead of just measuring how many people have a payment account, we must consider all of the financial services that people need to take control over their financial lives—everything from financial-planning tools for managing budgets and expenses to access to affordable credit to start businesses and invest in college; insurance to help deal with unexpected expenses; retirement accounts for long-term savings; and more." - President of PayPal, Dan Schulman
“Most people might just as well buy a share of the whole market, which pools all the information, than delude themselves into thinking they know something the market doesn’t.”- Merton Miller5
"This nation will remain the land of the free only
so long as it is the home of the brave."
“There is always a disposition in people’s minds to think the existing conditions will be permanent. When the market is down and dull, it is hard to make people believe that this is the prelude to a period of activity and advance. When the prices are up and the country is prosperous, it is always said that while preceding booms have not lasted, there are circumstances connected with this one, which make it unlike its predecessors and give assurance of permanency. The fact pertaining to all conditions is that they will change.”
– Charles Dow, 1900
"A budget is used to track expenses. It focuses on limiting them to stay within your means in order to save money. It is a mindset of scarcity and is like using a rearview mirror for managing money. A budget is merely a piece of your puzzle. Cash flow is the picture. It focuses on where your money needs to go to fulfill the goals that you have for your future. It is like looking through a windshield to see where you are going and allows you to direct money toward creating health and ultimately more income. It is an abundance mindset, not a scarcity mindset."
"I believe our flag is more than just cloth and ink. It is a universally recognized symbol that stands for liberty, and freedom. It is the history of our nation, and it's marked by the blood of those who died defending it."
- John Thune
The theory of self-determination holds that human beings need three basic things in order to be content: they need to feel competent at what they do; they need to feel authentic in their lives; and they need to feel connected to others. These values are considered “intrinsic” to human happiness and far outweigh “extrinsic” values such as beauty, money and status. - Sebastian Junger author of Tribe- On Homecoming and Belonging
"It's not what you take when you leave this world behind you
It's what you leave behind you when you go."
"From birth to 18 a girl needs good parents. From 18 to 35 she needs good looks. From 35 to 55 she needs a good personality. From 55 on she needs cash."- Sophie Tucker
"A vision is not a vision unless it says yes to some ideas and no to others, inspires people and is a reason to get out of bed in the morning and come to work."- Gifford Pinchot
"The leaders who work most effectively never say "I". And That's not because they have trained themselves not to say "I". They don't think "I". They think "we"; they think "team." They understand their job to be to make the team function. They accept responsibility and don't sidestep it, but "we" gets the credit. This is what creates trust, what enables you to get the task done."- Peter Drucker
"...there's so much pessimism of what's going on, justified pessimism,
that I think we underestimate how good 2021 could be going forward."
"Honor to the solider and sailor everywhere, who bravely bears his country's cause.
Honor, also, to the citizen who cares for his brother in the field and serves, as he best can, the same cause."
- Abraham Lincoln
"... the best prize that life offers is the chance to work hard at work worth doing."
- Theodore Roosevelt
"The person who is the star of previous era is often the last one to adapt to change,
the last one to yield to logic of a strategic inflection point and tends to fall harder than most."
- Andrew Grove
"Try not to bet on the end of the world because it just doesn’t happen very often."
- Peter Lynch
I’m always struck by the similarity in women’s stories – whether athletes or scientists, businesswomen or soldiers, politicians – no matter how different they may superficially seem. That’s because of the thread of continuity with women throughout the ages, the sense that we are doing what women have always done, even as we pioneer our way across cultural divides or declare a revolution.
Caretaking – that’s the common thread that runs through the stories. No matter what else women are doing, we are also “mothering” – taking care of somebody or something, and, for the most part doing it joyously. That’s what women have been doing from the beginning and I, believe, will continue to do. I think we’ve been doing it awfully well for a very long time.
-Cokie Roberts, Author of We Are Our Mother's Daughters
"So many people walk around with a meaningless life. They seem half asleep even when they're busy doing things they think are important. This is because they're chasing the wrong things. The way you get meaning into your life is to devote yourself to loving others, devote yourself to your community around you, and devote yourself to creating something that gives you purpose and meaning."- Mitch Albom
"Good organizations create a vision, articulate the vision, passionately own the vision, and then empower each other to relentlessy drive it to completion." - Jack Welch
"Plans are nothing. Planning is everything."
-Dwight D. Eisenhower
“Bargain: something you can’t use at a price you cannot resist.”-Franklin P. Jones
"The important thing about an investment philosophy is that you have one you can stick with."- David Booth1
"People who save 10 percent of their pay— and dont touch it— find themselves on pace to replace all their income in retirement."
“Taxes are what we pay for a civilized society.”- Oliver Wendell Holmes, JR.
“The service we render to others is really the rent we pay for our room on this earth.” - Wilfred Grenfell
"Don't ask what the world needs. Ask what makes you come alive, and go do it. Because what the world needs is people who have come alive."- Howard Thurman
“Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.”– Paul Samuelson7
“Risk is not knowing what you’re doing.”- Warren Buffett