Bernard Baruch Quotes
101 Bernard Baruch Quotes (Bernard M Baruch, Bernard Mannes Baruch)
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I had learned my first lesson in money making – that people who try to get rich from mining often put more into the ground than they take out of it.
Bernard Baruch
When beggars and shoeshine boys, barbers and beauticians can tell you how to get rich it is time to remind yourself that there is no more dangerous illusion than the belief that one can get something for nothing.
Bernard Baruch
I have heard many man talk intelligently, even brilliantly about something – only to see them proven powerless when it comes to acting on what they believe.
Bernard Baruch
Information cannot serve as an effective substitute for thinking.
Bernard Baruch
[In 1895] I had never experienced a depression before. But even then I began to grasp dimly that the period of emergence from a depression provides rare opportunities for financial profit.
Bernard Baruch
During a depression people come to feel that better times will never come. They cannot see through their despair to the sunny future that lies behind the fog. At such times a basic confidence in the country’s future pays off, if one purchases securities and holds them until prosperity returns.
Bernard Baruch
The longer I operated in Wall Street the more distrustful I became of tips and ‘inside’ information of every kind. Given time, I believe that inside information can break the Bank of England or the United States Treasury.
Bernard Baruch
In the search for facts I learned that one had to be as unimpassioned as a surgeon. And if one had the facts right, one could stand with confidence against the will or whims of those who were supposed to know best.
Bernard Baruch
Repeatedly in my market operations I have sold a stock while it still was rising – and that has been one reason why I have held onto my fortune.
Bernard Baruch
Some people boast of selling at the top of the market and buying at the bottom – I don’t believe this can be done.
Bernard Baruch
It is far more difficult… to know when to sell a stock than when to buy.
Bernard Baruch
The sensible course is to sell while the stock is rising or if you have made a mistake to admit it immediately and take your loss.
Bernard Baruch
The wisest course is to sell to the point where one stops worrying.
Bernard Baruch
Mankind has always sought to substitute energy for reason, as if running faster will give one a better sense of direction.
Bernard Baruch
Don’t speculate unless you can make it a full-time job.
Bernard Baruch
Beware of barbers, beauticians, waiters – of anyone - bringing gifts of ‘inside’ information or ‘tips’.
Bernard Baruch
Before you buy a security, find out everything you can about the company, it’s management and competitors, it’s earnings and possibilities for growth.
Bernard Baruch
Don’t try to buy at the bottom and sell at the top. This can’t be done – except by liars.
Bernard Baruch
Learn how to take your losses quickly and cleanly. Don’t expect to be right all the time. If you have made a mistake, cut your losses as quickly as possible.
Bernard Baruch
Don’t buy too many different securities. Better have only a few investments which can be watched.
Bernard Baruch
Make a periodic reappraisal of all your investments to see whether changing developments have altered their prospects. [If I had not purchased this stock, knowing what I now know would I purchase it again today?]
Bernard Baruch
Study your tax position to know when you can sell to greatest advantage.
Bernard Baruch
Always keep a good part of your capital in a cash reserve. Never invest all of your funds.
Bernard Baruch
Don’t try to be a jack of all investments. Stick to the field you know best.
Bernard Baruch
Whatever failures I have known, whatever errors I have committed, whatever follies I have witnessed in private and public life have been the consequence of action without thought.
Bernard Baruch
[On the power of the mind] Not long after our arrival father fell ill. His complaint was diagnosed as heart trouble and he was told that he did not have long to live. His first impulse was to return south. Fortunately he went to a second doctor, the distinguished Alfred Loomis, who diagnosed the trouble as indigestion induced by worry over getting a foot hold in New York. Father’s affliction disappeared as soon as a few more patients began to call.
Bernard Baruch
[Words from his economics professor] ‘When prices go up two processes will set in – an increased production and a decreased consumption. The effect will be a gradual fall in prices. If prices get too low two processes will set in – decreased production because a man will not continue to produce at a loss and, second, increased consumption. These two forces will tend to establish the normal balance.’ Ten years later I became rich by remembering those words.
Bernard Baruch
I think economists as a rule – and it is not personal to him – take for granted that they know a lot of things. If they really knew so much, they would have all the money and we would have none.
Bernard Baruch
The art of living lies less in eliminating our troubles than in growing with them.
Bernard Baruch
Millions saw the apple fall, but Newton was the one who asked why.
Bernard Baruch
I have sought to harmonize a readiness to risk something new with precautions against repeating the errors of the past.
Bernard Baruch
Katherine Blake [His first teacher in New York] gave me the first prize I ever won - A copy of Oliver Twist. It is still in my library, bearing the inscription ‘Awarded to Bernard Baruch for Gentlemanly Deportment and General Excellence. – June 1881’ I kept in touch with her until her death in 1950 and delivered a eulogy to her… I never think of her without feeling how unappreciative our society generally is of our schoolteachers.
Bernard Baruch
I have always done some physical exercising, which undoubtedly has helped me stay in good health. [Bernard Baruch passed away just before his 95th birthday]
Bernard Baruch
Above all else, in other words, the stock market is people. It is people trying to read the future. And it is this intensely human quality that makes the stock market so dramatic an arena in which men and women pit their conflicting judgements, their hopes and fears, strengths and weaknesses, greeds and ideals.
Bernard Baruch
The investing public was wary, as it always is when things are cheap.
Bernard Baruch
I have defined a speculator as a man who observes the future and acts before it occurs. To be able to do this successfully three things are necessary: 1) One must get the facts of the situation or problem 2) One must form a judgement as to what those facts portend and 3) One must act in time – before it is too late.
Bernard Baruch
This need to act in time may point to the harshest single dilemma of a democratic society.
Bernard Baruch
In the stock market one quickly learns how important it is to act swiftly.
Bernard Baruch
Over the long-run I have found it better to rely on one’s own cold detached judgement of the economic facts.
Bernard Baruch
A man is made whole only by his own acts.
Bernard Baruch
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