Famous Sayings
Gustave Le Bon -- The Crowd: A Study of the Popular Mind
"When popular opinion is nearly unanimous, contrary thinking tends to be most profitable. The reason is that once the crowd takes a position, it creates a short-term, self-fulfilling prophecy. But when a change occurs, everyone seems to change his mind at once."
"The crowd never thirsted for the truth."
*****
Mark Twain
"Sometimes the noisy handful is right, sometimes wrong; but no matter, the crowd follows it."
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Henry Kissinger
"Once we are in action, tactical aspects tend to be overriding, while the strategic framework tends to be forgotten."
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Elroy Dimson
"Risk means that more things can happen than will happen."
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Paul Samuelson
"We have only one sample of the past."
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Kevin McKeen -- The Orderly Pursuit of Pure Disorder, Discover, January, 1981
"In a world as crazy as this one, it ought to be easy to find something that happens solely by chance. It isn't."
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G. K. Chesterton
"The real trouble with the world of ours is not that it is an unreasonable world, nor even that it is a reasonable one. The commonest kind of trouble is that it is nearly reasonable, but not quite. Life is not an illogicality; yet it is a trap for logicians. It looks just a little more mathematical and regular than it is. Its exactitude is obvious, but its inexactitude is hidden; its wildness lies in wait."
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Michelangelo
"The greater danger of most of us is not that our aim is too high and we miss it, but that it's too low and we reach it."
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unknown origin
"Simple is not easy."
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George Goodman
"If you don't know who you are, the stock market is an expensive place to find out."
*****
Richard Olsen, CEO Olsen Group
"It is impossible to predict news events-the stone hitting the water - but by modeling the structure of the markets it is possible to predict how the ripples will pass through the lake and cause secondary reactions."
*****
Craig R. Barrett, CEO Intel
"Analysts are historians, who are predicting the past."
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Steven Garmaise, Midland Walwyn Capital
"Going against the consensus is the way an analyst makes his or her mark."
*****
Frank Bormann, CEO, Eastern Airlines, 1986
"Capitalism without bankruptcy is like Christianity without hell."
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Francis Bacon
"If a man will begin with certainties, he shall end in doubts, but if he will be content to begin with doubts, he shall end in certainties."
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Mahatma Gandhi
"From time to time we should examine the criterion upon which we base our judgments."
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Chinese Proverb
"I Hear, I Forget
I See, I Remember
I Do, I Understand."
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Sören Kierkegaard, Danish Philosopher
"Live (markets) can only understood backwards, but it (they) must be lived (traded) forward."
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Sir Karl Popper, Austrian Philosopher
"Progress in knowledge results more from efforts to find faults with our theories, rather than prove them."
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Niels Bohr, Atomic Physics and Human Knowledge
"The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth."
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Albert Einstein
"Everything should be made as simple as possible, but not any simpler."
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John Maynard Keynes
"There is nothing so disastrous as a rational investment policy in an irrational world."
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Popular Mechanics, 1949
"Computers in the future may weigh no more than 1.5 tons."
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Chairman of IBM, 1943
"I think there is a world market for maybe five computers."
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President & founder of Digital Equipment Corp., 1977
"There is no reason anyone would want a computer in their home."
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Bill Gates, 1981
"640K ought to be enough for anybody."
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Isaiah 41:23, 700 B.C.
"Tell us what the future holds, so we may know that you are gods."
*****
Horoscope, New York Times
"Precautions should be taken against running into unforeseen occurrences or events."
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Dan Quayle
"We are ready for any unforeseen event which may or may not occur."
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Ezra Solomon
"The only function of economic forecasting is to make astrology look respectable."
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unknown origin
"When you lose, don't lose the lesson."
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Hogarth and Makridakis, 1981
"One should use forecasts, not believe them."
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George Box
"All models are wrong, some are useful."
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K. Dunnigan
"A statistician is a person who stands in a bucket of ice water, sticks their head in an oven and says 'on average, I feel fine!'"
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Arthur Miller
"Data is a lot like humans: It is born. Matures. Gets married to other data, divorced. Gets old. One thing that it doesn't do is die. It has to be killed."
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Edward Gibbon
"The laws of probability, so true in general, so fallacious in particular."
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Albert Einstein
"As far as the laws of mathematics refer to reality, they are not certain; and as far as they are certain, they do not refer to reality."
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