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The real reason that physicians are rotten investors is that it never occurs to them that finance is a science, just like medicine.

— William J. Bernstein The Four Pillars of Investing (2002)

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More quotes by William J. Bernstein

Investing is not a destination. It is an ongoing journey through its four continents - theory, history, psychology and business.

The Four Pillars of Investing (2002)

The advent of modern communication technology has simply facilitated the rapid dissemination of increasingly trivial information.

The Four Pillars of Investing (2002)

Human beings are not very good at taking losses or admitting failure.

The Four Pillars of Investing (2002)

In finance as in life, there is often a huge chasm between what is expected and what actually transpires.

The Four Pillars of Investing (2002)

The worst possible time to invest is when the skies are the clearest.

The Four Pillars of Investing (2002)

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Economics is on the side of humanity now.

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Since the state must necessarily provide subsistence for the criminal poor while undergoing punishment, not to do the same for the poor who have not offended is to give a premium on crime.

John Stuart Mill Principles of Political Economy (1848)

Economy, in the estimation of common minds, often means the absence of all taste and comfort.

Sydney Smith Lady Holland's Memoir (1855)

Attribution

Quote text and notes from Wikiquote: William J. Bernstein (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.