The Money Game Quotes

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The Money Game The Money Game by George Goodman
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“The first thing you have to know is yourself. A man who knows himself can step outside himself and watch his own reactions like an observer.”
Adam Smith, The Money Game
“Beyond this, the problem is universal. It is that governments are now held responsible for the welfare of the people. The aspirations of the people can outrun their ability to pay for them, and nobody has yet found a way to create answers to the aspirations out of thin air.”
Adam Smith, The Money Game
“Never mind that the long term is a series of short terms, or that in the long run we are all dead. The phrases “patient investor” and “long-term appreciation” ring with the virtues of capitalist ethos.”
George Goodman, The Money Game
“It is much easier to say, “While the near term is uncertain, long-term holdings need not be disturbed,” than to say, “Dump this one.”
George Goodman, The Money Game
“If the profit numbers on income statements are treated with such reverence, it was obviously only a question of time before some smart fellows would start building companies not around the logical progression of a business but around what would beef up the numbers.”
George Goodman, The Money Game
“If you listen either to Successful Operator, eaves-dropping on the great Keane, or to Odd-Lot Robert, eavesdropping on the sister’s friend from City Hall, you will notice one attitude in common: There is a They out there in the market.”
George Goodman, The Money Game
“No, Virginia, there is still a They, which may come as a surprise. They do get information first, They do have the ability to move stocks, and it helps a lot if you know what They are doing.”
George Goodman, The Money Game
“But if you stop to think about it, here is one authority saying there are no formulas which can be automatically applied. If you are not automatically applying a mechanical formula, then you are operating in this area of intuition, and if you are going to operate with intuition—or judgment—then it follows that the first thing you have to know is yourself. You are—face it—a bunch of emotions, prejudices, and twitches, and this is all very well as long as you know it. Successful speculators do not necessarily have a complete portrait of themselves, warts and all, in their own minds, but they do have the ability to stop abruptly when their own intuition and what is happening Out There arc suddenly out of kilter.”
George Goodman, The Money Game