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— Benjamin Graham"The most realistic distinction between the investor and the speculator is found in their attitude toward stock-market movements. The speculator's primary interest lies in anticipating and profiting from market fluctuations. The investor's primary interest lies in acquiring and holding suitable securities at suitable prices. Market movements are important to him in a practical sense, because they alternately create low price levels at which he would be wise to buy and high price levels at which he certainly should refrain from buying and probably would be wise to sell."
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As a man of pleasure, by a vain attempt to be more happy than any man can be, is often more miserable than most men are, so the sceptic, in a vain attempt to be wise beyond what is permitted to man, plunges into a darkness more deplorable, and a blindness more incurable than that of the common herd, whom he despises, and would fain instruct.
— Charles Caleb Colton
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Those who would administer [charity] wisely must, indeed, be wise, for one of the serious obstacles to the improvement of our race is indiscriminate charity. It were better for mankind that the millions of the rich were thrown into the sea than spent to encourage the slothful, the drunken, the unworthy. Of every thousand dollars spent in so-called charity today, it is probable that nine hundred and fifty dollars is unwisely spent - so spent, indeed, as to produce the very evils which it hopes to mitigate or cure.
— Andrew Carnegie
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