The old saying holds. Owe your banker �1000 and you are at his mercy; owe him �1 million and the position is reversed.

The considerations upon which expectations of prospective yields are based are partly existing facts which we can assume to be known more or less for certain, and partly future events which can only be forecasted with more or less confidence.

I think that Capitalism, wisely managed, can probably be made more efficient for attaining economic ends than any alternative system yet in sight, but that in itself is in many ways extremely objectionable.

The power to become habituated to his surroundings is a marked characteristic of mankind.

If economists could manage to get themselves thought of as humble, competent people on a level with dentists, that would be splendid.

One's knowledge and experience are definitely limited and there are seldom more than two or three enterprises at any given time in which I personally feel myself entitled to put full confidence.

When I find new information I change my mind; What do you do?