Businesspeople From The United States

"Intelligent investment is more a matter of mental approach than it is of technique. A sound mental approach toward stock fluctuations is the touchstone of all successful investment under present-day conditions."

"Nothing in finance is more fatuous and harmful, in our opinion, than the firmly established attitude of common stock investors regarding questions of corporate management. That attitude is summed up in the phrase: "If you don't like the management, sell your stock." [...] The public owners seem to have abdicated all claim to control over the paid superintendents of their property"

"All the real money in investment will have to be made—as most of it has been in the past— not out of buying and selling but out of owning and holding securities, receiving interests and dividends therein, and benefiting from their long-term increases in value. Hence stockholder's major energies and wisdom as investors should be directed toward assuring themselves of the best operating results from their corporations. This in turn means assuring themselves of fully honest and competent managements."

"It is no difficult trick to bring a great deal of energy, study, and native ability into Wall Street and to end up with losses instead of profits. These virtues, if channeled in the wrong directions, become indistinguishable from handicaps."

"The genuine investor in common stocks does not need a great equipment of brain and knowledge, but he does need some unusual qualities of character"

"Stocks can be dynamite."

"The history of the past fifty years, and longer, indicates that a diversified holding of representative common stocks will prove more profitable over a stretch of years than a bond portfolio, with one important provisio—that the shares must be purchased at reasonable market levels, that is, levels that are reasonable in the light of fairly well-defined standards derived from past experience."

"Though business conditions may change, corporations and securities may change, and financial institutions and regulations may change, human nature remains the same. Thus the important and difficult part of sound investment, which hinges upon the investor's own temperament and attitude, is not much affected by the passing years."

"We have introduced the monetary factor not by necessity but by choice. Its advantages are obvious. Self-financed commodity units are not only interest free, but free also from dependence upon credit conditions. They are a step-desirable, it seems to us-in the direction of a goods economy as distinct from a money economy; but this step is taken without violence by merely identifying basic goods with money. It guarantees unfailing purchasing power where it is most needed-among the countless producers of raw commodities."

"It is a misfortune of the times that all of us must needs be amateur economists-including, and perhaps especially, the professionals."

"Many progressive economists insist that gold is now in essentially the same position as silver and that the arguments the simon-pure gold advocates use against the white metal can be directed with equal effect against their own fetish."

"The story of Joseph in Egypt and of the seven fat and the seven lean years has passed into the homely wisdom of the ages; but our economic thinking seems to have lost contact with so simple and basic approach to prudent management of a nations welfare."

"The modern world is not geared properly to the storage of goods."

"Cartels have spread and will spread as long as the world lacks an effective mechanism by which balanced expansion may be achieved without a resulting disruption of prices."

"The world has not learned the technique of balanced expansion without the resultant commercial and financial congestion."

"The people of the United States will not tolerate another deep depression that arises not from any lack of natural resources, productive capacity or man and brain power, but solely from imperfections in the functioning of the system of finance capitalism."

"The Reservoir plan is an engineering mechanism applied to the field of economics, and in its essence it has nothing to do with democracy or any other political philosophy."

"It must be fundamentally wrong to reduce production of food and fiber while one-third of our population is still ill fed and ill clothed."

"There is something paradoxical in the fact that by establishing an export market we subject our entire domestic production to the vagaries of that market."

"The volume of credit depends upon three factors: the desire to borrow, the ability to lend and the desire to lend."

"THERE is widespread agreement among economists that abuse of credit constitutes one of the chief unwholesome elements in business booms and is mainly responsible for the ensuing crash and depression."

"The utility, or intrinsic value of gold as a commodity is now considerably less than in the past; its monetary status has become extraordinarily ambiguous; and its future is highly uncertain."

"The money cost of the reservoir plan literally fades into insignificance when it is compared with the financial burden which the great depression imposed on the nation."

"Both a priori reasoning and experience teach us that as as these funds grow larger the geometrical rate of growth by compound interest ultimately defeats itself."

"The existence of such a war chest might go far to strengthen our prestige and frighten off any would be assailant."

"Price statistics show clearly that instability in raw-material prices is a prime cause of instability of other prices."

"Why should the cotton growers suffer if there is shortage of wheat?"

"The Reservoir system will function not only as an equalizer of business conditions, but also as a national store to meet further emergencies, such as war and drought, and-most important of all-as the concrete means of developing a steadily higher living standard for all."

"The State can always afford to finance what its citizens can soundly produce."

"It is a fact worth pondering that four centuries ago the evil of "an abundance or surplus" arose from its being kept off the market, while today the evil of surplus lies in its being thrown upon the market."

"Whether we like it or not, government intervention in the face of surplus is here to stay."

"Even the most conservative must realize that the recent transformation of surplus from an individual to a national disaster implies a scathing indictment of our capitalist system as it has now developed."

"Instead of passing blithely over into that Promised Land, flowing almost literally with milk and honey, it may be our destiny to wander a full 40 years or more in the wilderness of doubt and divided sentiments."

"The idea of storage as a solution of economic problems at least has the support of common sense.It is diametrically opposed to the topsy-turvy Alice-in-Wonderland reasoning that has marked so much of our depression thinking and policy."

"You are neither right nor wrong because people agree with you."

"Shortly before Shigeru Miyamoto's keynote was about to start, Reggie himself was taking the time to sign autographs and pose for pictures, when one gamer shouted out something from the crowd."

"I'd much rather have the consumer buy a Wii, some accessories, and a ton of games, vs. buying any of my competitor's products."

"That's Sony's issue, not my problem."

"If competitors don't like our two to one advantage, dominating market share with both SP and DS, well, I've got bad news. Because we just made it two and a half to one."

"One of our competitors is a manufacturer in Japan who wants to capture every one of your entertainment dollars transporting all your content between all of your electronic devices on their memory sticks. We are not that company. And there is another company out there who doesn't care what you do, as long as you do it on their operating system. We are not that company either."

"Are my competitors making some mistakes? Yes they are. But I'll tell you this: Sony is a formidable company and I respect them and I don't take them lightly. We have to do what we need to do, let them do what they're going to do. If they continue to make mistakes, that's their problem, not mine. We are focused on making sure that we are going to be successful."

"My body is ready."

"Wii Fit is it."

"Let's face it. The bottom line of every E3 is simple: what's hot and what's not. Here's our take. What's hot is the feel of the game, the look is secondary. What's hot is the next leap, not just a small step. It's hot if it's disruptive, it's not if it's predictable. The future of our industry is inclusion, not exclusion. It's about the heat of emotion, not the chill of technology. We know that the future is right here. Wii and the DS represent the same thing: risk."

"We want to thank everyone who wrote good things about it the day you heard it--both of you."

"You came to LA this week to peek into the future. But if all you want is next generation, you're in the wrong place. Because what you'll see from Nintendo is not just 'next'. Instead, it's what's absolutely new. What we're unveiling is the next leap in gaming; to a place where playing is no longer just about looks--it's about the feel. Where it's no longer confined to just the few--it's about everyone. And most of all, the next leap is not about what you see, because what you see is not always what you get. The next leap is about playing, because playing is believing."

"Prepare to let your right brain run wild."

"To date, global sellthrough for Nintendo DS stands at over 5 million, or more than twice the level for the PSP. Now, I know what some of you are thinking: "Well, the PSP hasn't arrived in Europe yet." So we got there when we said we would, and they didn't. You know what? That's Sony's issue, not my problem."

"Nintendo DS is not standing still. As a tenth serious competitor decides to make a run at Game Boy, DS raises the bar on portable gaming, before they even get started."

"Mario sees himself in Nintendo DS, and he feels like flying."