Our Daily Bleg: Wall Street Proverbs, Please

Here’s the latest guest bleg from Fred Shapiro, editor of the Yale Book of Quotations. His past blegs can be found here; send us your own bleg requests here.

The Motley Fool used my blegging for modern proverbs as an inspiration to write about “investing proverbs.”

Wall Street is indeed a rich source of memorable quotations, including: “Buy on the rumor, sell on the news”; “Sell in May and go away”; and “The trend is your friend.” Can Freakonomics readers suggest other investing proverbs?

P.S. — A number of readers have called upon me to include an answer section for my blegs. I intend to address this within the next few weeks.

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  1. Greg says:

    I remember an SNL skit after the ’87 crash. It was Wall Street Week with a guest named “Futureman” he had the best investing mantra ever:

    “Read old newspapers, look at historic charts, go back in time, buy low, sell high.”

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  2. Adam J. Fein says:

    The stock market is like a beauty contest. Don’t pick the prettiest girl; Pick the one everyone else thinks is the prettiest. (Keynes?)

    Adam

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  3. luz says:

    “When there is blood on the streets, buy real estate”. Le Baron de Rothschild (so said Jodie Foster in 2006′s Inside Man).

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  4. ziggurat says:

    I like them in matched pairs:

    No one ever went broke taking profits – sell you losers and let your winners ride.

    Don’t fight the tape/the trend is your friend – buy when there is blood in the streets.

    I would be surprised if there are any cliches that don’t have an opposite.

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  5. DK1 says:

    “Where Are the Customers’ Yachts?” (Fred Schwed)

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  6. John says:

    From Keynes – In the long run, we’re all dead.

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  7. Bylo Selhi says:

    Pigs get fat. Hogs get slaughtered.

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  8. Justin says:

    October: This is one of the peculiarly dangerous months to speculate in stocks in. The others are July, January, September, April, November, May, March, June, December, August and February. (Mark Twain)

    Those who live by numbers can also perish by them and it is a terrifying thing to have an adding machine write an epitaph, either way. (George J.W. Goodman)

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