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Quotes on Economics

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Quote Authors

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

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Over the long-term, big companies of America behave more like biology than they do anything else. In biology, all the individuals die and so do all the species. It’s just a question of time. And that’s pretty well what happens in the economy too.
”

Charlie Munger
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One of the major differences between behavioral economics and standard economics is that, in standard economics, the individual agent is supposed to be driven or motivated by the utility of future wealth and discounted future wealth and present wealth. In behavioral economics, agents are supposed to be motivated by something else: gains and losses.
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Daniel Kahneman
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Deregulation only works when everybody is virtuous and flexible.
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Peter Bernstein
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I've always said if you spend 13 minutes a year on economics, you've wasted 10 minutes.
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Peter Lynch
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The fabric of civilization today is woven of millions of threads. No spot in it is so strong that it will not feel some effect from a weakening at any point.
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Philip Carret
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There are economic facts and there's economic predictions and economic predictions are a total waste.
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Peter Lynch
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Extrapolation is usually right, but not valuable, and predictions of deviation from trends are potentially profitable but rarely right. So far, macro-economic forecasting doesn't represent the path to superior investments.
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Howard Marks
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I've listened to a lot of economic briefings, and I've had a lot of visits from economists, and I've never encountered one who was right consistently.
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Howard Marks
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If you totally divorce economics from psychology, you've gone a long way toward divorcing it from reality.
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Charlie Munger
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The great lesson in microeconomics is to discriminate between when technology is going to help you and when it’s going to kill you.
”

Charlie Munger
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