Nothing 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.

Those who matter don't mind, and those who mind don't matter.

You don't have to blow out the other person's light to let your own shine.

Become more humble as the market goes your way.

Two things are bad for the heart - running up stairs and running down people.

I have known men who could see through the motivations of others with the skill of a clairvoyant; only to prove blind to their own mistakes. I have been one of those men.

Age is only a number, a cipher for the records. A man can't retire his experience. He must use it. Experience achieves more with less energy and time.