Donald J. Trump – Real Estate Entrepreneur, best selling author and television producer
What is too good to be true most likely is. When it comes to investment, you must ask yourself “How much money can you stand to lose?”
Steve Forbes – President and CEO Forbes Inc
My basic philosphy is if you want to get rich, start your own business. If you invest, pay more than lip service to disciplined investing and long term investing. Everyone is a disciplined, long term investor until the market goes down.
Suze Orman – Best Selling Author and Personal Finance Expert
It’s better to have 50% of something than 100% of nothing. The biggest mistake people make in investing is that they get greedy. You can always buy back into something but you can’t always sell when there’s nothing left to sell.
SY Sternberg – Chairman and CEO, New York Life Insurance COmpany
Have the courage to be the first one in. Whether you are a buyer or seller, you don’t want to be among the multitudes. It is those who come to market early, ahead of the crowd, who realize the greatest profit. If a deal doesn’t meet your personal comfort threshold, don’t ever consider it. But if it does meet your requirements, don’t hesitate. It’s a good bet your decision will prove to be a better on than later.
Bill Gross – Billionaire, Founder and Chief Investment Officer, PIMCO
He is inspired by 2 financial wizards – Bernard Baruch and Jesse Livermore.
Baruch said “Whatever men attempt they seem driven to overdo. When hopes are soaring, or outlook is steeped in pessimism, I always remind myself “2 plus 2 equals 4, and you can’t keep mankind down for long” The Baruch quote is a classic reference to going against the grain when things get euphoric or excessively pessimistic. Money is made over the long term by riding the wave of the crowd for 70-80% of the time.
Livermore says ” An investor has to guard against many thing – most of all against himself. Get off and back on the wave of the crowd is to separate yourself psychologically from what is going on, hopeful or fearful.