In general, markets know more than the people who write about them..

The art of banking is always to balance the risk of a run with the reward of a profit. The tantalizing factor in the equation is that riskier borrowe….

I believe that there is an important kernel of truth in the idea that financial errors recur every other generation..

To me the gold price takes the form of a very uncomplicated formula, and all you have to do is divide one by 'n.' And 'n', I'm glad you ask, 'n' is t….

Debt is always repaid, either by the borrower or by the lender..

Every debt is ultimately paid, if not by the debtor, then eventually by the creditor..

The Fed can change how things look, not how things are.

Hope sustains life, but misplaced hope prolongs recessions..

It is an axiom nowadays that no bank fails for lack of capital; unprofitable lending is always the underlying cause..

Central banks have gotten out of the central banking business and into the central planning business, meaning that they are devoted to raising up-if ….

Growth at an exceptional rate is a red flag in banking. It is hard enough to manage an ordinary bank; to control a sprouting weed is well-nigh imposs….

To suppose that the value of a common stock is determined purely by a corporation's earnings discounted by the relevant interest rates and adjusted f….

Progress is cumulative in science and engineering, but cyclical in finance..

Successful investing is about having people agree with you ... later..

In almost every walk of life, people buy more at lower prices; in the stock market they seem to buy more at higher prices..

[C]apitalism without financial failure is not capitalism at all, but a kind of socialism for the rich..

Nothing beats a little cash in a bear market, of course, and the oldest form of cash is gold..

Credit is money of the mind..

[T]he first bad bank loan was no doubt made around the time of the opening of the first bank..

It's about bums on seats. If nobody wants to listen to what you are doing, it kind of defeats the purpose really, doesn't it?.

The 1980s are to debt what the 1960s were to sex. The 1960s left a hangover. So will the 1980s..