Lucien Hooper, a Wall Street legend:
“What always impresses me, is how much better the relaxed, long-term owners of stock do with their portfolios than the traders do with their switching of inventory. The relaxed investor is usually better informed and more understanding of essential values; he is more patient and less emotional; he pays smaller capital gains taxes; he does not incur unnecessary brokerage commissions; and he avoids behaving like Cassius by ‘thinking too much.’”
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"Economy is a poor man's revenue; extravagance, a rich man's ruin." ~~??, frontspiece, The American Frugal Housewife, by Lydia Maria Child, Harper & Row, 1836 edition (dedicated to those who are not ashamed of economy).
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