Bonmots

“Wall Street invented the expression ‘Too big to fail’, and the nation swallowed that nonsense. No entity is too big to fail. During the Great Depression, thousands of banks, big and small, failed. But the nation survived and eventually prospered.” Richard Russel, Dow Theory Letters, 19.2.2010

“Echtes Offshore-Geschäft mit dauerhaft unversteuertem Geld werden sich in Zukunft nur noch Finanzplätze leisten können, hinter denen mächtige Länder wie die USA oder China stehen.” Konrad Hummler, Wegelin & Co., Anlagekommentar Nr. 268, 18.1.2010

“Never play cards with a guy named “Doc”. Never eat in a restaurant named “Mom’s”. Never marry anyone who’s got more troubles than you have. Never take a stock tip from – well, never take a stock tip. Period.” Richard Russel, Dow Theory Letters, 3.1.2010