People are the common denominator of progress; no improvement is possible with unimproved people.

If you feed enough oats to the horse, some will pass through to feed the sparrows (referring to "trickle down" economics).

I react to what is necessary. I would like to eschew any formula.

More investment trusts securities were offered in September of 1929 even than in August - the total was above $600 million. However, the nearly simultaneous promotion of Shenandoah and Blue Ridge was to stand as the pinnacle of new era finance. It is difficult not to marvel at the imagination which was implicit in this gargantuan insanity. If there must be madness something may be said for having it on a heroic scale.

People of privilege will always risk their complete destruction rather than surrender any material part of their advantage.

I think without a doubt, that what is called "financial genius" is merely a rising market.

[Franklin Delano] Roosevelt was the central world figure in the two great disasters of this century - the Great Depression and World War II. By contrast, JFK came in relatively peaceful, agreeable times.