![]() He doesn’t know enough medicine to do a patient any harm His business might be defined as the lending of money exclusively to people who have no pressing need for it (talking of a conservative banker) “The Cleaners” was not one of those exclusive clubs by 1932 everybody who had ever tried speculation had been admitted to membership In due course of time, if they bought on margin, they went to “the Cleaners”, that mythical establishment to which their brother speculators had repaired some time earlier. Rarely will it be the most difficult of all answers - “I don’t know” If you do someone the signal honor of asking him a difficult question, you may be assured that you will get detailed answer. …some of them don’t know what they are talking about and those who do know, don’t tell all they know, or don’t permit themselves to believe all that they know Some of the gems I came across in the bookĪccounting is not even an art, but a state of mind. ![]() What’s written in 1940 still holds good as our instincts have hardly changed in the interim. Where are the Customers’ Yachts?, Fred Schwed Jr., 1940 - This is by far the most hilarious Investing book I have read. ![]()
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