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On Economics

I wish I had said that
“A market is the combined behavior of thousands of people responding to information, misinformation and whim.”
~ Kenneth Chang

“Ask five economists and you’ll get five different answers (six if one went to Harvard).”
~ Edgar R. Fiedler

“Economics is extremely useful as a form of employment for economists.”
~ John Kenneth Galbraith

“A study of economics usually reveals that the best time to buy anything is last year.”
~ Marty Allen

“The First Law of Economics: For every economist, there exists an equal and opposite economist. The Second Law of Economics: They’re both wrong.”
~ Anonymous

“The only function of economic forecasting is to make astrology look respectable.”
~ John Kenneth Galbraith

“Wall Street indices predicted nine out of the last five recessions!”
~ Paul Samuelson

“If all the economists were laid end to end, they’d never reach a conclusion.”
~ George Bernard Shaw

“We’ve long felt that the only value of stock forecasters is to make fortune tellers look good. Even now, Charlie and I continue to believe that short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children.”
~ Warren Buffett

“I think it’s wrong that only one company makes the game Monopoly.”
~ Steven Wright

Investor Resources

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The laws and rules that govern the securities industry in the United States derive from a simple and straightforward concept: all investors, whether large institutions or private individuals, should have access to certain basic facts about an investment prior to buying it, and so long as they hold it." —U.S. Securities and Exchange Commission
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