Whitney Tilson: Virus Problem

Whitney Tilson Money Quote saying in his newsletter that his friend Bill Ackman made what was a brilliant trade, betting against the markets due to Covid 19. Whitney Tilson said:
 

 

“Was it really so hard to see on February 19 … when the S&P hit an all-thigh and credit spreads were close to all-time lows, that the coronavirus might be a big problem?” — Whitney Tilson

 
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To get a face mask click the image below:

 
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Andrew Tobias: 21% Risk-Free

Andrew Tobias Money Quote saying that eliminating credit card debt is the safest money-making methodology. Andrew Tobias said:
 

 

“You want 21 percent risk free? Pay off your credit cards” — Andrew Tobias

 
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Frank Abagnale Jr: No Debit Card

Frank Abagnale Jr Money Quote saying debit cards are riskier than credit cards because someone could access your cash, not the bank’s money. Frank Abagnale Jr said:
 

 

“Never, ever use a debit card….. a debit card is certainly and truly the worst financial tool ever given to the American consumer. Why? It’s simple: Every time you use one, you put your money and your bank account at risk” — Frank Abagnale Jr.

 
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George Washington: Credit Prosper

George Washington Money Quote saying in the first State of the Union Address to Congress on January 8, 1790 that we should work out how to pay our debts ($11,000,000 at the time). George Washington said:
 

 

“An adequate provision for the support of the public Credit is a matter of high importance to the national honor and prosperity” — George Washington

 
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The national debt was only at $0 one time in history, beginning January 8, 1835 when President Andrew Jackson was able to keep the debt at zero for about a year.
 
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Anatole France: Cash Poor Refused Credit

Anatole France Money Quote saying those in poverty pay for everything in cash only because nobody will grant them credit – not because they are resisting debt. Anatole France said:
 

 

“It is only the poor who pay cash, and that not from virtue, but because they are refused credit” — Anatole France

 
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Orison Swett Marden: Best Capital; Friends

Orison Swett Marden Money Quote saying we undervalue our friends when comparing friendship to wealth. They help us attain the success we desire. Orison Swett Marden said:
 

 

“No young man starting in life could have better capital than plenty of friends. They will strengthen his credit, support him in every great effort, and make him what, unaided, he could never be. Friends of the right sort will help him more — to be happy and successful — than much money” — Orison Swett Marden

 
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Mokokoma Mokhonoana: Foolish Credit

Mokokoma Mokhonoana Money Quote saying Credit is often foolishly used to buy things before we can afford them, but buying something that is not needed urgently on credit is just plain dumb. Mokokoma Mokhonoana said:
 

 

“It is even more foolish to buy an unnecessary thing on credit” — Mokokoma Mokhonoana

 
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Barbara Ehrenreich: Poor Paid a Pittance

Barbara Ehrenreich Money Quote saying we seek too much mystery about why people are poor, when it should be quite obvious that pay is too low and costs of living are excessive. Barbara Ehrenreich said:
 

 

“Why are people poor? Because they are uneducated? No, because (1) they are paid so little for their work and (2) the pittance they are paid is quickly sucked off by landlords, credit companies, the medical industry and other predators” — Barbara Ehrenreich

 
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Why are people poor? Because they are uneducated? No, because (1) they are paid so little for their work and (2) the pittance they are paid is quickly sucked off by landlords, credit companies, the medical industry and other predators. Solutions are obvious.

— Barbara Ehrenreich (@B_Ehrenreich) May 21, 2018

 
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