The rich can speculate; the poor must not; the penniless have no choice but to speculate.
Wer viel Geld hat, kann spekulieren; wer wenig Geld hat, darf nicht spekulieren; wer kein Geld hat, muss spekulieren.

Investors
André Kostolany
Born in Budapest in 1906, Kostolany spent 80-plus years in markets from Paris and Frankfurt. His Egg Theory and contrarian philosophy made him Europe's foremost speculator-educator. He died in 1999 at 93.
View this figure's profile
André Kostolany's Other Quotes
Buy stocks, take sleeping pills, and stop looking at the papers. After many years you will see: you are rich.
On the stock exchange, anything is possible, including the opposite.
Stock market profits are pain money. First comes the pain, then the money.
I cannot tell you how to get rich quickly, but I can tell you how to get poor quickly: by trying to get rich quickly.
Related Quotes
Nothing in the world is softer than water, yet nothing surpasses it in overcoming the hard and strong.
-- Laozi
By failing to prepare, you are preparing to fail.
-- Benjamin Franklin
Conceive optimistically, plan pessimistically, execute optimistically.
-- Kazuo Inamori
The most important thing is being attentive to cycles.
-- Howard Marks
You can't predict. You can prepare.
-- Howard Marks
I try to invest in companies where the downside is limited and the upside is significant.
-- Bruce Berkowitz