There is something in people; you might even call it a little bit of a gambling instinctโฆ I tell people investing should be dull. It shouldn't be exciting. Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.
Paul SamuelsonPerhaps there really are managers who can outperform the market consistently - logic would suggest that they exist. But they are remarkably well-hidden.
Paul SamuelsonI spent the four years I was an undergraduate working on the beach. And it wasn't because I was lazy; it was because my freshman class would go to a hundred different employers and wouldn't get a nibble.
Paul SamuelsonOur ideal society finds it essential to put a rent on land as a way of maximizing the total consumption available to the society. ...Pure land rent is in the nature of a 'surplus' which can be taxed heavily without distorting production incentives or efficiency. A land value tax can be called 'the useful tax on measured land surplus'.
Paul Samuelson