Roger Lowenstein is an American financial journalist and writer best known for working with the Wall Street Journal for more than a decade. With an array of books under his belt, here is a look at some of the most notable Roger Lowenstein quotes ever recorded.
“Buffett’s methodology was straightforward, and in that sense ‘simple.’ It was not simple in the sense of being easy to execute. Valuing companies such as Coca-Cola took a wisdom forged by years of experience; even then, there was a highly subjective element.”
“America’s abandonment of the gold standard would have shocked the founders, who took for granted that money had to be more than mere paper.”
“Being right on a stock had something of the purity of a perfect move in chess; it had an intellectual resonance.”
“Buffett does enjoy being a billionaire, but in offbeat ways. As he put it, though money cannot change your health or how many people love you, it lets you be in ‘more interesting environments.”
“Buffett found it ‘extraordinary’ that academics studied such things. They studied what was measurable, rather than what was meaningful.”
“Buffett was a billionaire who drove his own car, did his own taxes, and still lived in a home he had bought in 1958 for $31,500.”
“Buffett’s genius was largely a genius of character—of patience, discipline, and rationality.”
“Buffett’s uncommon urge to chronicle made him a unique character in American life, not only a great capitalist but the Great Explainer of American capitalism.”
“Graham’s first goal was never to make money—it was to avoid losing any.”
“He stripped Wall Street of its mystery and rejoined it to Main Street — a mythical or disappearing place, perhaps, but one that is comprehensible to the ordinary American.”
— CFA Society Chicago (@CFA_Chicago) April 6, 2016
“His talent sprang from his unrivaled independence of mind and ability to focus on his work and shut out the world, yet those same qualities exacted a toll.”
“If Wall Street is to learn just one lesson from the Long-Term debacle, it should be that.”
“Imagine the big rating agencies as three competitive saloons standing side by side, with each free to set its own drinking age. Before long, nine-year-olds would be downing bourbon.”
“other people’s folly, not to mention their avarice and stupidity.”
“Regardless of how earnestly bankers trumpeted the virtues of laissez-faire, in times of unrest markets looked to Washington to provide stability.”
“The book is worth reading, in part because it is enjoyable to read of”
“The great man is he who in the midst of the crowd keeps with perfect sweetness the independence of solitude.”
“The modern spirit is a hesitant one. Spontaneity has given way to cautious legalisms, and the age of heroes has been superseded by a cult of specialization. We have no more giants; only obedient ants.”
“Three questions divided reformers: Who should issue the new currency? To what degree should the system be centralized? And should bankers or politicians be in control?”
“Warburg hesitated before daring to reply. “Your bank is so big and so powerful, Mr. Stillman, that when the next panic comes, you will wish your responsibilities were smaller.”
Here is an one on one interview with Roger Lowenstein with Douglas Goldstein as they discusses his book, ‘America’s Bank.’ Focused on the struggle for creating the Federal Reserve, Lowenstein goes on to explain the reasoning for this and suggest why having a large debt may not be as threatening as it seems.
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