Last weekend, Wall Street Journal columnist Jason Zweig wrote an “Ode to the Wall Street Platitude,” quoting 80 of his favorite financial proverbs and sayings. Guess what? Among those 80 sayings, 45 of them (60%) can be found directly in the new 5th edition of my book, “The Maxims of Wall Street,” including such gems as:
“In the land of the blind, the one-eyed is king.”
“The easy money has been made.”
“Stocks take the stairs up and the elevator down.”
Veterans of Wall Street tend to be cynical about investing. Here’s one of my favorite quotes (thanks to Wendell Brock):
“Nothing makes the spirit fly higher than finding a bargain when you’re the buyer. And nothing makes the spirit sink deeper than finding it later a whole lot cheaper.”
Although he has a copy of my book, Zweig didn’t give me credit for compiling these sayings in a single volume. On the other hand, Barron’s reviewed my book more generously.
I believe my book is the first to collect all the sayings on Wall Street (over 800 and counting), and it has been endorsed by Warren Buffett, Jack Bogle, Dennis Gartman, Alex Green and many other financial experts.
“Maxims” is the ideal source for Wall Street wisdom. Alex Green calls it a “classic,” and Dennis Gartman keeps it on his desk for frequent reference. I know some investors who keep it on the night stand and read a couple of quotes every day.
Now in its 5th edition and with more than 25,000 copies in print, it is the ideal gift for friends, relatives, clients, stockbrokers and money managers. The first copy is only $20, and all additional copies are only $10 each. If you order an entire box of 32 copies, the price is only $300 postpaid. I autograph each copy and mail them free if you live within the United States. To order, call Harold at Ensign Publishing, toll-free 1-800-254-2057. (For orders outside the United States, call Harold for additional fees.)
Sometimes small quotes can have a deep meaning. For example: “Nobody is more bearish than a sold-out bull.”
Join me at the San Francisco MoneyShow, Aug. 23-25, Hilton Union Square.
I’m scheduled to debate Mike Turner again on “Buy and Hold vs. Market Timing.” Plus, listen to Jim Woods (Fast Money Alert), Jeffrey Saut (Raymond James), Gene Simmons (KISS co-founder, vocalist and bass guitarist), John Buckingham, Neil George, Marilyn Cohen and Kelley Wright.
To get your free tickets, call 1-800-970-4355 and be sure to mention code 045690.
You Nailed It!
Trump Pardons Oregon Ranchers
Earlier this week, President Trump pardoned a father and son, both cattle ranchers in Oregon who were sentenced to serve long prison terms for arson on public lands. The duo got into trouble with the Feds because they were outspoken critics of public land use in rural Oregon.
Dwight Hammond and his son Steven were convicted of crimes that, under the Antiterrorism and Effective Death Penalty Act of 1996, require a mandatory minimum jail sentence of five years in prison. Their convictions drew sharp rebukes from the local community amid allegations that the family had been aggressively prosecuted for their stand using statues designed to combat terrorism.
In a statement, White House press secretary Sarah Huckabee Sanders said an “overzealous appeal” of the Hammonds’ original sentences during the Obama administration, which sent them back to prison, was “unjust.”
“The Hammonds are devoted family men, respected contributors to their local community, and have widespread support from their neighbors, local law enforcement, farmers and ranchers across the West,” Sanders said. “Justice is overdue.”
I also commend President Trump for pardoning Dinesh D’Souza a few months ago. D’Souza is another example of overzealous federal agents going after a person for political purposes.
I don’t agree with all of Trump’s pardons — such as those given to Arizona sheriff Joe Arpaio or Illinois Governor Rod Blagojevich — but whenever the corrupt Deep State takes over, pardons are a great remedy.