N. Murray Edwards Quotes

Markets shouldn't be moving in a straight line.

Share prices fluctuate more than share values.

If you rank the top 50 one-day moves in the S&P 500, a fair number of those happened within the last five or 10 years. That tells you that we're in a different, riskier market now.

Volatility may be rising simply because investors must digest more information every day.

The one thing about markets is that they do not give any advance notice. If they did, they would be arbitraged away.

… there is little rhyme or reason to the going up or coming down of the [Stock] Market

Markets are unforgiving, and sometimes they move for reasons we can't possibly foresee.

Most economists, when modeling market behavior, tend to sweep major fluctuations under the rug and assume they are anomalies. What I have found is that major rises and falls in prices are actually inevitable.

Nothing ever surprises me about the market.

As I have said before, the daily machinations of the stock market are like a tale told by an idiot, full of sound and fury, signifying nothing.

I like the PC market. It's a big market, but it's a very volatile market as well.

Listen to market strategists, and a word that comes up a lot these days is 'volatility.'

Market risk is like taking a plunge into a cool pool ... a lot of people are finding out right now what their risk tolerance is.

A price decline is of no real importance to the bona fide investor unless it is either very substantial say, more than a third from cost or unless it reflects a known deterioration of consequence in the company's position. In a well-defined bear market many sound common stocks sell temporarily at extraordinary low prices. It is possible that the investor may then have a paper loss of fully 50 per cent on some of his holdings, without any convincing indication that the underlying values have been permanently affected.

Short term volatility is greatest at turning points and diminishes as a trend becomes established

Reversion to the mean is the iron rule of the financial markets.

There will always be bull markets followed by bear markets followed by bull markets

When you're public, you're at the mercy of the markets. You can be doing extremely well, but if the markets are in the tank or your industry is in the tank, you don't get rewarded for it.

The stock market is like a small row boat on a rough sea, bouncing around as it drifts, whereas the macro economy is like a large ocean liner, very ponderous and difficult to maneuver but without such a rough journey.

Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.

Actually, one of the better indicators historically of how well the stock market will do is just a Gallup poll, when you ask Americans if you think it's a good time to invest in stocks, except it goes the opposite direction of what you would expect. When the markets going up, it in fact makes it more prone toward decline.

Obviously, no one knows when the market is going to bottom out, and I am certainly not an economist.

You know, the market was down yesterday... my first thought when I heard-just on a personal basis, when I heard there had been this attack and I saw the futures this morning, which were really in the tank, I thought, Time to buy.

When volume drops off, prices settle down. Volume is the force that turns stocks higher.

There's a certain degree of speculation that goes into valuations. In so far as the market supports a valuation, everyone who gets a great one deserves it, but they should also be cautious because that speculation is temporary. I saw Yahoo go from $100 billion to $10 billion. It's not a long-term measure.