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

It is the long term investor who will in practice come in for the most criticism. For it is the essence of his behaviour that he should be eccentric, unconventional and rash in the eyes of the average opinion. If he is successful, that will only confirm the general belief in his rashness; and if in the short run he is unsuccessful, which is very likely, he will not receive much mercy. Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.

I know of only three people who really understand money. A professor at another university. One of my students. And a rather junior clerk at the Bank of England.

To suggest social action for the public good to the city London is like discussing The Origin of Species to a Bishop sixty years ago.

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

The key to selecting the winner isn't choosing the face you think is the most beautiful but rather the face other people will pick

Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.