Novel Investor

Compounding investing wisdom...

  • Home
  • About
  • Library
  • Tools

Quotes on Gambling

Quote Categories

Active Management, Aging, Bear Market, Behavior, Benchmarks, Bonds, Bull Market, Business, Career, Cash, Cash Flow, Competitive Advantage, Compound Return, Cyclical Stocks, Decisions, Diversification, Dividends, Earnings, Economic Cycle, Economics, Economists, Expansion, Fees, Forecasting, Gambling, Gold, Growth Stocks, Index Funds, Inflation, Interest Rate, Investing, Knowledge, Liquidity, Losses, Luck, Management, Margin Trading, Market Bubbles, Market Correction, Market Crash, Market Cycle, Market Efficiency, Market History, Market Timing, Math, Mistakes, Probability, Recession, Return, Risk, Risk Management, Savings, Security Analysis, Selling, Shareholders, Short Selling, Special Situations, Speculation, Stock Market, Stock Picking, Stocks, Taxes, Technology, Time Horizon, Turnover, Uncertainty, Valuation, Value Investing, Volatility, Wall Street,

Quote Authors

Benjamin Graham, Bernard Baruch, Charles Ellis, Charlie Munger, Chuck Akre, Daniel Kahneman, David Abrams, David Swensen, 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, Meir Statman, Myron Scholes, Peter Bernstein, Peter Lynch, Philip Carret, Philip Fisher, Richard Thaler, Robert Shiller, Seth Klarman, Stanley Druckenmiller, Walter Schloss, Warren Buffett,

“
The propensity to gamble is always increased by a large prize versus a small entry fee, no matter how poor the true odds may be.
”

Warren Buffett
Source: link

“
The trading favorites of 1928 were high-priced, untried, and unseasoned stocks that made one wonder whether the public did not think that the higher the price the better the stock.
”

Edwin Lefevre
Source: link

“
It is one of the common pieces of Wall Street experience that when the public goes stock mad and the market leaders are filled with the arrogance of prolonged success, such little things as high money rates or decreases in earnings or unraised dividends have no instant effect on the market -- that is, on the state of mind of the speculating public. In the end, of course, all violations of the fundamental laws of economic and financial common sense are paid for; but every bull thinks he will unload before the break.
”

Edwin Lefevre
Source: link

“
"Easy money" means only one thing when it means money that has come easy: It means money goes even more easily than it came.
”

Edwin Lefevre
Source: link

“
When people think there's easy money available, they're not inclined to change.
”

Warren Buffett
Source: link

“
Any time you offer a big prize for a small amount of money, you encourage stupid behavior on behalf of those you're appealing to.
”

Warren Buffett
Source: link

“
The way I would think about risk aversion is most people would not want to toss a coin for their entire net worth.
”

Seth Klarman
Source: link

“
The first task of the bargain hunter is to narrow the field and separate the solid prospects from the ones that are counting on hopes, prayers, and miracles.
”

Peter Lynch
Source: link

“
Avoid long shots. I've bought about 30 long shots in my life. I've never broken even on one.
”

Peter Lynch
Source: link

“
When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done.
”

John Maynard Keynes
Source: link

“
The game of professional investment is intolerably boring and overexacting to anyone who is entirely exempt from the gambling instinct; whilst he who has it must pay to this propensity the appropriate toll.
”

John Maynard Keynes
Source: link

“
Gambling is a tax on ignorance. People often gamble because they think they can win, they're lucky, they have hunches, that sort of thing, whereas in fact, they're going to be remorselessly ground down over time.
”

Edward Thorp
Source: link

“
Casino gambling with a system where you have the edge is a wonderful teacher for elementary money management.
”

Edward Thorp
Source: link

Sign up for more weekly wisdom.

Learning

  • Library
  • Book Notes
  • Quotes

Return Tables

  • Asset Class Returns
  • Stock Sector Returns
  • International Stock Market Returns
  • Emerging Markets Returns
  • Historical Returns

Connect

  • Home
  • About
  • Contact

© 2021 Novel Investor · All Rights Reserved · Terms of Use · Privacy Policy · Disclaimer