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

Like Odysseus, the President looked wiser when he was seated.

The markets are moved by animal spirits, and not by reason.

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.

The time has already come when each country needs a considered national policy about what size of population, whether larger or smaller than at present or the same, is most expedient. And having settled this policy, we must take steps to carry it into operation. The time may arrive a little later when the community as a whole must pay attention to the innate quality as well as to the mere numbers of its future members.

The businessman is only tolerable so long as his gains can be held to bear some relation to what, roughly and in some sense, his activities have contributed to society.

Investing is an activity of forecasting the yield over the life of the asset; speculation is the activity of forecasting the psychology of the market.