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John Kenneth Galbraith Quotes

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Arthur Rock, Benjamin Graham, Bernard Baruch, Charles Ellis, Charlie Munger, Chuck Akre, Daniel Kahneman, David Abrams, David Swensen, Dean LeBaron, Dean Williams, Edward Thorp, Edwin Lefevre, Fred Schwed Jr, Henry Singleton, Hetty Green, Howard Marks, Joel Greenblatt, John Bogle, John Kenneth Galbraith, John Maynard Keynes, John Stuart Mill, John Templeton, Lou Simpson, Marty Whitman, Meir Statman, Michael Price, Mohnish Pabrai, Myron Scholes, Paul Tudor Jones, Peter Bernstein, Peter Lynch, Philip Carret, Philip Fisher, Richard Thaler, Robert Kirby, Robert Shiller, Seth Klarman, Stanley Druckenmiller, T. Rowe Price, Walter Schloss, Warren Buffett,

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Nothing so gives the illusion of intelligence as personal association with large sums of money.
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John Kenneth Galbraith
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Of all the mysteries of the stock exchange there is none so impenetrable as why there should be a buyer for everyone who seeks to sell. October 24, 1929 showed that what is mysterious is not inevitable. Often there were no buyers, and only wide vertical declines could anyone be induced to bid.
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John Kenneth Galbraith
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What we do know is that speculative episodes never come gently to an end. The wise, though for most the improbable, course is to assume the worst.
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John Kenneth Galbraith
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Neither regulation nor memory is a perfect protection against the will to delude one's self or others. If people are sufficiently persuaded of their own wizardry or that of others, they and their money will be separated.
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John Kenneth Galbraith
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Economists, when they seek to be profound, often succeed only in being wrong.
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John Kenneth Galbraith
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Laws have been passed to outlaw some of the more egregious behavior which contributed to the big bull market of the twenties. Nothing has been done about the seminal lunacy which possesses people who see a chance of becoming rich.
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John Kenneth Galbraith
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It is easy enough to burst a bubble. To incise it with a needle so that it subsides gradually is an operation of undoubted delicacy.
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John Kenneth Galbraith
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I do strongly urge that we be as cautious as ever in reposing too great confidence in men of great financial position.
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John Kenneth Galbraith
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Once a boom is well started, it cannot be arrested. It can only be collapsed.
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John Kenneth Galbraith
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The occupational disease of the speculator is acute uneasiness.
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John Kenneth Galbraith
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It is the sovereign privilege of a free citizen to lose his money precisely as he pleases.
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John Kenneth Galbraith
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Booms start with some tie-in to reality, some reason which justifies the increase in asset values, and then -- and this is the critical feature of speculative mood -- the market loses touch with reality.
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John Kenneth Galbraith
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Wall Street has always been much esteemed as something to blame.
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John Kenneth Galbraith
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The stock market does have a life of its own.
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John Kenneth Galbraith
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Forecasting is a notoriously underpaid profession, and extremely risky to boot, so I avoid it.
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John Kenneth Galbraith
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