... a speculator is one who runs risks of which he is aware and an investor is one who runs risks of which he is unaware.

Government machinery has been described as a marvelous labor saving device which enables ten men to do the work of one.

It is the long-term investor...who will in practice come in for the most criticism... For it is the essence of his behavior that he should be eccentric, unconventional, and rash in the eyes of average opinion

If you owe your bank a hundred pounds, you have a problem. But if you owe a million, it has.

The immense accumulations of fixed capital which, to the great benefit of mankind, were built up during the half century before the war, could never have come about in a Society where wealth was divided equitably.

Newton was not the first of the age of reason. He was the last of the magicians, the last of the Babylonians and Sumerians, the last great mind that looked out on the visible and intellectual world with the same eyes as those who began to build our intellectual inheritance rather less than 10,000 years ago.

In this autumn of 1919, in which I write, we are at the dead season of our fortunes.