A dangerous fallacy is to repudiate freedom in favor of an unknown future. What else but our own sturdy reliance on freedom can explain the unexampled record this country has made? In a period scarcely twice my own lifetime it has risen from nothingness to become the world's greatest power. It has become the ark of the covenant of freedom.
Bernard BaruchSociety can progress if men's labors show a profit - if they yield more than is put in. To produce at a loss must leave less for all to share.
Bernard BaruchOur problem in money-making or government affairs is how to remain properly venturesome and experimental without making fools of ourselves.
Bernard BaruchThere are no such things as incurables. There are only things for which man has not found a cure.
Bernard BaruchIf a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he is wrong.
Bernard BaruchThere is something about inside information which seems to paralyze a man's reasoning powers.
Bernard BaruchNothing did more to spur the boom in stocks than the decision made by the New York Federal Reserve bank, in the spring of 1927, to cut the rediscount rate. Benjamin Strong, Governor of the bank, was chief advocate of this unwise measure, which was taken largely at the behest of Montagu Norman of the Bank of England....At the time of the Banks action I warned of its consequences....I felt that sooner or later the market had to break.
Bernard Baruch