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When I was in high school, I loved paintball. I saved up my allowances and started my own paintball supply company. Everyone thought I was just some obsessed kid, but today the company is one of the biggest paintball suppliers in Canada.

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James Grant

To suppose that the value of a common stock is determined purely by a corporation's earnings discounted by the relevant interest rates and adjusted for the marginal tax rate is to forget that people have burned witches, gone to war on a whim, risen to the defense of Joseph Stalin and believed Orson Welles when he told them over the radio that the Martians had landed.

Burned, Business, People, Stock, Suppose, War
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Progress is cumulative in science and engineering, but cyclical in finance.

Banking, Cyclical, Engineering, Progress, Science

[C]apitalism without financial failure is not capitalism at all, but a kind of socialism for the rich.

Financial, Kind, Socialism, Rich, Capitalism

Successful investing is about having people agree with you. . . later.

Agree, Investing, People, Successful

Central banks have gotten out of the central banking business and into the central planning business, meaning that they are devoted to raising up-if they can-economic growth and employment through the dubious means of suppressing interest rates and printing money. The nice thing about gold is that you can't print it.

Money, Nice, Mean, Raising, Dubious, Rates

To me the gold price takes the form of a very uncomplicated formula, and all you have to do is divide one by 'n. ' And 'n', I'm glad you ask, 'n' is the world's trust in the institution of paper money and in the capacity of people like Ben Bernanke to manage it. So the smaller 'n', the bigger the price. One divided by a receding number is the definition of a bull market.

Definition, Gold, Manage, Numbers, People, Receding
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