Quote for the Week
I regard my property largely as a trust. It is not mine absolutely. I take care of it on much the same principle as you would foster a valuable animal left in your charge. Of course my attitude in the premises was inherited. My father believed that the money left to one should be given over undiminished to the next generation. That also is my idea.
He believed that one who inherited property had the right to spend the income it yielded, but not to waste the principal.
About all that can be said is that my investments have been carefully chosen and have turned out well as a rule. A fortune cannot be built up around any fixed idea or, in other words, without the exercise of plain common sense. I buy when things are low and no one wants them. I keep them, just as I keep a considerable number of diamonds on hand, until they go up and people are anxious to buy. That is the general secret of business success. One thing, however, has been wrongly attributed to me, and that is speculating. I never speculate. Such stocks as belong to me were purchased simply as an investment, never on a margin. — Hetty Green, 1905 (source)
From the Archives
Last Call
- Waiting for the IPO wave – Owenomics
- Strengths as Weaknesses – MicroCapClub
- The Biggest Active Stock Funds Picked the Right Stocks. They Still Lagged – J. Ptak
- The Past is Prologue: Disposition Effect – Klement on Investing
- Investment Behavior Is a Design Problem, Not an Information Problem – Enterprising Investor
- The Diet That Is Making You Miserable – R. Holiday
- The Most Influential Crank in Modern History – Hot Takes
- How the World’s First Electric Grid was Built – Works in Progress
- Here’s Why You Are Constantly Fighting Off Scammers – Freakonomics
- The 49MB Web Page – S. Bose