Money Mantras….(11)
Posted by Muthukrishnan on April 30, 2009
Here is the 11th series of ‘Money Mantras’, the first one for the current financial year.
1) The real measure of your wealth is how much you would be worth if you lost all your money- Anonymous
2) Ask five economists and you’ll get five different answers (six if one went to Harvard)- Edgar R. Fiedler
3) An economist is an expert who will know tomorrow why the things he predicted yesterday didn’t happen today- Laurence J. Peter
4) I am indeed rich, since my income is superior to my expense, and my expense is equal to my wishes- Edward Gibbon
5) Uncle claims that if he files his income tax wrong he’ll go to jail, and if he files it right he’ll go to the poor house – Nonnee Coan
6) Profits are like breathing. You have to have them.But who would stay alive just to breathe? – Maurice Mascaranhas
7) Credit buying is much like being drunk. The buzz happens immediately, and it gives you a lift. The hangover comes the day after-Dr. Joyce Brothers
Go for a business that any idiot can run – because sooner or later, any idiot probably is going to run it.- Peter Lynch
9) Both our operating and investment experience cause us to conclude that “turnarounds” seldom turn, and that the same energies and talent are much better employed in a good business purchased at a fair price than in a poor business purchased at a bargain price – Warren Buffett
10) A market downturn, doesn’t bother us. For us and our long term investors, it is an opportunity to increase our ownership of great companies with great management at good prices. Only for short term investors and market timers is a correction not an opportunity.- Warren Buffett
