Of course, shedding the debt burden would be a happy development for our country, but it would nevertheless pose a big dilemma for the Fed. Our primary lever of monetary policy was buying and selling treasury securities-Uncle Sam's IOU's. But as the debt was paid down, those securities would grow scarce, leaving the Fed in need of a new set of assets to effect monetary policy.
Fortunes made buying and selling securities have underwritten economic revolutions.aaron c. brown
In numerous years following the war the Federal government ran a heavy surplus. It could not pay off it's debt, retire its securities, because to do so meant there would be no bonds to back the national bank notes. To pay off the debt was to destroy the money supply.john kenneth galbraith
When someone pukes up a stock, it's not hard to miss. Mispriced securities all over the table. And we are there with a barf bag, collecting all we can.andy kessler
Carl Friedrich Gauss, often rated the greatest mathematician of all time, played the market. On a salary of 1,000 thalers a year, Euler left an estate of 170,587 thalers in cash and securities. Nothing is known of Gauss's investment methods.william poundstone
He was a tall man with an astonishing and somehow elegant curvature of the spine, formed by an enlarged lower abdomen, which he carried in a stately and contented way, as if it contained money and securities.john cheever
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.benjamin graham
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.benjamin graham
The investor's primary interest lies in acquiring and holding suitable securities at suitable prices.benjamin graham
If we assume that there are normal or standard income results to be obtained from investing money in securities, then the role of the adviser can be more readily established. He will use his superior training and experience to protect his clients against mistakes and to make sure that they obtain the results to which their money is entitled.benjamin graham
Observation over many years has taught us that the chief losses to investors come from the purchase of low-quality securities at times of favorable business conditions.benjamin graham
As soon as Mr. [Franklin] Roosevelt took office, the Federal Reserve began to buy government securities at the rate of ten million dollars a week for 10 weeks, and created one hundred million dollars in new currency, which alleviated the critical famine of money and credit, and the factories started hiring people again.
The power of perpetuating our property in our families is one of the most valuable and interesting circumstances belonging to it, and that which tends the most to the perpetuation of society itself. It makes our weakness subservient to our virtue; it grafts benevolence even upon avarice. The possession of family wealth and of the distinction which attends hereditary possessions (as most concerned in it,) are the natural securities for this transmission.Edmund Burke