Source: Why Stock Markets Crash - Critical Events in Complex Systems (2003), Chapter 4, Positive Feedbacks, p. 81
“If you want to understand financial markets, and their effects on the economy, you have to understand the trading game. Many short-term price movements are neither random nor caused by economic fundamentals. They're caused by investors buying and selling.”
Source: The Poker Face of Wall Street (2006), Chapter 1, The Art of Uncalculated Risk, p. 12
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Aaron C. Brown 15
American financial analyst 1956Related quotes
Source: The Intelligent Investor: The Classic Text on Value Investing (1949), Chapter II, The Investor and Stock-Market Fluctuations, p. 35
"A Crash Course for Central Bankers," http://www.foreignpolicy.com/story/cms.php?story_id=3272 Foreign Policy (September/October 2000)
“Economy is the first and great article (economy such as I understand it) in my financial creed.”
Letter to his brother Robertson of the Financial Reform Association at Liverpool (1859), as quoted in Gladstone as Financier and Economist (1931) by F. W. Hirst, p. 241
1850s
Context: Economy is the first and great article (economy such as I understand it) in my financial creed. The controversy between direct and indirect taxation holds a minor, though important place.
Source: The Intelligent Investor: The Classic Text on Value Investing (1949), Chapter II, The Investor and Stock-Market Fluctuations, p. 42