That we have the best of both worlds at BookQuoters we read books cover-to-cover but Typical of the Information Age but is a habit disdained by some diehard readers. World conversely, gleaning the main ideas of a book via a quote or a quick summary is Books are seen by some as a throwback to a previous Submissions from our visitors and will select the quotes we feel are most appealing toįounded in 2023, BookQuoters has quickly become a large and vibrant community of people Interesting, well written and has potential to enhance the reader’s life. We thoughtfully gather quotes from our favorite books, both classic and current, andĬhoose the ones that are most thought-provoking. For all of us, quotes are a great way to remember a bookĪnd to carry with us the author’s best ideas. For some of us a quote becomes a mantra, a goal or a More via texts, memes and sound bytes, short but profound quotes from books have become Memorable and interesting quotes from great books. Since Alexander wasn’t constrained by appearances, he sought to exploit people who were.”īookQuoters is a community of passionate readers who enjoy sharing the most meaningful, They simply could not be seen holding them. The people selling Farm Credit bonds for less than they were worth weren’t necessarily stupid. The thought of not bailing out an eighty-billion-dollar institution that lent money to America’s distressed farmers was absurd. government had rescued firms as remote from the national interest as Chrysler and the Continental Illinois Bank, there was no chance the government would allow the Farm Credit bank to default. In an age when failure isn’t allowed, when the U.S. Investors stampeded out of Farm Credit bonds because having been warned of the possibility of accident, they couldn’t be seen in the vicinity without endangering their reputations. It looked for a moment as if Farm Credit might go bankrupt. A good example of this was the crisis at the U.S. But when a market is widely regarded to be in a bad way, even if the problems are illusory, many investors get out. They are, strangely enough, happy to stand on the edge of a precipice as long as they are joined by a few thousand others.

When they are caught losing money alone, they have no excuse for their mistake, and most investors, like most people, need excuses. Investors do not fear losing money as much as they fear solitude, by which I mean taking risks that others avoid. Everyone wants to be one, but no one is, for the sad reason that most investors are scared of looking foolish. The word stockbrokers use for this approach is contrarian. “First, when all investors were doing the same thing, he would actively seek to do the opposite.

Liar's Poker by Michael Lewis