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21 Most Famous Roger Lowenstein Quotes (MONEY)

11 Wise Roger Lowenstein Quotes on Money and Investing (WISDOM)

“This is the true lesson of Long-Term’s demise. No matter what the models say, traders are not machines guided by silicon chips; they are impressionable and imitative; they run in flocks and retreat in hordes.”

Roger Lowenstein
Investors long for steady waters, but paradoxically, the opportunities are richest when markets turn turbulent.
Investors long for steady waters, but paradoxically, the opportunities are richest when markets turn turbulent.
Once a typhoon breaks loose in markets, there is no telling where it will go.
Once a typhoon breaks loose in markets, there is no telling where it will go.
The great man is he who in the midst of the crowd keeps with perfect sweetness the independence of solitude.
The great man is he who in the midst of the crowd keeps with perfect sweetness the independence of solitude.
Graham’s first goal was never to make money — it was to avoid losing any.
Graham’s first goal was never to make money — it was to avoid losing any.
America’s abandonment of the gold standard would have shocked the founders, who took for granted that money had to be more than mere paper.
America’s abandonment of the gold standard would have shocked the founders, who took for granted that money had to be more than mere paper.
When you need money, Wall Street is a heartless place.
When you need money, Wall Street is a heartless place.

“While a losing trade may well turn around eventually (assuming, of course, that it was properly conceived to begin with), the turn could arrive too late to do the trader any good – meaning, of course, that he might go broke in the interim.”

Roger Lowenstein
If you aren’t in debt, you can’t go broke and can’t be made to sell, in which case 'liquidity' is irrelevant.
If you aren’t in debt, you can’t go broke and can’t be made to sell, in which case ‘liquidity’ is irrelevant.
Being right on a stock had something of the purity of a perfect move in chess; it had an intellectual resonance.
Being right on a stock had something of the purity of a perfect move in chess; it had an intellectual resonance.
Finance is often poetically just; it punishes the reckless with special fervor.
Finance is often poetically just; it punishes the reckless with special fervor.

7 Roger Lowenstein Quotes on Warren Buffet

Buffett was a billionaire who drove his own car, did his own taxes, and still lived in a home he had bought in 1958 for $31,500. He seemed to answer to a deeply rooted, distinctly American mythology, in which decency and common sense triumphed over cosmopolitan guile, and in which an idealized past held firm against a rootless and too hurriedly changing present.”

Roger Lowenstein
Buffett’s genius was largely a genius of character — of patience, discipline, and rationality.
Buffett’s genius was largely a genius of character — of patience, discipline, and rationality.

Buffett does enjoy being a billionaire, but in offbeat ways. As he put it, though money cannot change your health or how many people love you, it lets you be in ‘more interesting environments.'”

Roger Lowenstein

Buffett found it ‘extraordinary’ that academics studied such things. They studied what was measurable, rather than what was meaningful. As a friend [Charlie Munger] said, ‘to a man with a hammer, everything looks like a nail.’”

Roger Lowenstein

Buffett’s uncommon urge to chronicle made him a unique character in American life, not only a great capitalist but the Great Explainer of American capitalism. He taught a generation how to think about business, and he showed that securities were not just tokens like the Monopoly flatiron, and that investing need not be a game of chance. It was also a logical, commonsensical enterprise, like the tangible businesses beneath. He stripped Wall Street of its mystery and rejoined it to Main Street — a mythical or disappearing place, perhaps, but one that is comprehensible to the ordinary American.”

Roger Lowenstein

Buffett’s methodology was straightforward, and in that sense ‘simple.’ It was not simple in the sense of being easy to execute. Valuing companies such as Coca-Cola took a wisdom forged by years of experience; even then, there was a highly subjective element. A Berkshire stockholder once complained that there were no more franchises like Coca-Cola left. Munger tartly rebuked him. ‘Why should it be easy to do something that, if done well two or three times, will make your family rich for life?”

Roger Lowenstein
A compact organization lets all of us spend our time managing the business rather than managing each other.
A compact organization lets all of us spend our time managing the business rather than managing each other.

3 Thought-provoking Roger Lowenstein Quotes that Will Make You Think

“The modern spirit is a hesitant one. Spontaneity has given way to cautious legalisms, and the age of heroes has been superseded by a cult of specialization. We have no more giants; only obedient ants.”

Roger Lowenstein
In seventy years, Russia’s Communists had not succeeded in dealing markets such a telling blow as did its deadbeat capitalists.
In seventy years, Russia’s Communists had not succeeded in dealing markets such a telling blow as did its deadbeat capitalists.

“Three questions divided reformers: Who should issue the new currency? To what degree should the system be centralized? And should bankers or politicians be in control?”

Roger Lowenstein

(MUST READ) When Genius Failed: The Rise and Fall of Long-Term Capital Management

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