[T]he first bad bank loan was no doubt made around the time of the opening of the first bank.

Nothing beats a little cash in a bear market, of course, and the oldest form of cash is gold.

[C]apitalism without financial failure is not capitalism at all, but a kind of socialism for the rich.

The Fed can change how things look, not how things are

To suppose that the value of a common stock is determined purely by a corporation's earnings discounted by the relevant interest rates and adjusted for the marginal tax rate is to forget that people have burned witches, gone to war on a whim, risen to the defense of Joseph Stalin and believed Orson Welles when he told them over the radio that the Martians had landed.

In general, markets know more than the people who write about them.

In almost every walk of life, people buy more at lower prices; in the stock market they seem to buy more at higher prices.