Financial Discipline Quotes

The Stock Market is designed to transfer money from the Active to the Patient.

Spend less than you make; always be saving something. Put it into a tax-deferred account. Over time, it will begin to amount to something. This is such a no-brainer.

Patience in Market, is worth Pounds in a year.

Investing requires qualities of temperament way more than it requires qualities of intellect.

Never spend your money before you have earned it.

Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money.

I have never had personal debt and never will.

Great investing requires a lot of delayed gratification.

I'd say it's that most people think that very wealthy people take huge risks and that's why they have huge rewards. But the very best on earth are completely obsessed with not losing money. That sounds overly simplistic, but they know that if you lost 50 percent, it takes 100 percent to get even. Most people don't make that math in their head, so it takes years and years. They are obsessed with not losing money.

Let us have the courage to stop borrowing to meet continuing deficits. Revenues must cover expenditures by one means or another. Any government, like any family, can, for a year, spend a little more than it earns. But you know and I know that a continuation of the habit means the poor house.

I do not pretend to step out of my own sphere and to control the internal management of other departments, but it seems to me that as Secretary of the Treasury, I may ask, that, while peace continues, the aggregate of the expenditure of those departments be kept within bounds such as will preserve the equilibrium between the national revenue and expenditure without recurrence to loans.

Soros is the best loss taker I've ever seen. He doesn't care whether he wins or loses on a trade. If a trade doesn't work, he's confident enough about his ability to win on other trades that he can easily walk away from the position.

The best scheme of finance is, to spend as little as possible; and the best tax is always the lightest.

The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd.

I'm frugal. I've always been this way. When I was young, my mom would give me my allowance, and I'd peel off a little each week and have some to spare.

You really don't need leverage in this world much. If you're smart, you're going to make a lot of money without borrowing. I've never borrowed a significant amount of money in my life. Never. Never will. I've got no interest in it.

I have only ever borrowed money for investment. I have been sound money all my life.

Successful Investing takes time, discipline and patience. No matter how great the talent or effort, some things just take time: You can't produce a baby in one month by getting nine women pregnant.

Overhead will eat you alive if not constantly viewed as a parasite to be exterminated. Never mind the bleating of those you employ. Hold out until mutiny is imminent before employing even a single additional member of staff. More startups are wrecked by overstaffing than by any other cause, bar failure to monitor cash flow.

Economy is a subject which admits of being treated with levity, but it cannot so be disposed of.

Don’t buy luxuries until you’ve built the assets to afford them

Our stay-put behavior reflects our view that the stock market serves as a relocation center at which money is moved from the active to the patient.

The first thing I heard when I got in the business - not from my mentor - was, 'Bulls make money, bears make money, and pigs get slaughtered.' I'm here to tell you I was a pig. And I strongly believe the only way to make long-term returns in our business that are superior is by being a pig.

Time is your friend; impulse is your enemy.