A plaque remaining from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem.

Above, a 1934 plaque from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem. Discarded as trash in 2006.

Recent entries:
Entry forthcoming—B.P. (9/18)
“What do you call an island populated entirely by cupcakes?"/"A desserted island.” (9/18)
Entry forthcoming—B.P. (9/18)
Entry forthcoming—B.P. (9/18)
“Does this hotel offer a turndown service?"/"Not to you.” (9/18)
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Entry from January 23, 2010
“More money has been lost reaching for yield than at the point of a gun”

"More money has been lost reaching for yield than at the point of a gun” is a popular financial quote that was said by Raymond F. DeVoe, Jr., of Legg Mason Wood Walker Inc., in February 1995. People search for higher yields (higher returns) and often lose money when a safer, lower return was available.

In 2009, the word “yield” in the middle of the quotation was sometimes replaced with another financial term: “More money has been lost because of the words this time is different than at the point of a gun.” (See: “The four most expensive words in the English language are ‘This time it’s different.’”)


Google News Archive
22 February 1995, Victoria (TX) Advocate, “Keeping score on investments is tough,” pg. 4D, col. 6:
For instance, it can push you to seek out the highest yield you can find on an income-producing investment, rather than balancing yield against risk. Declares Raymond F. DeVoe Jr., an analyst at the Wall Street firm of Legg Mason Wood Walker Inc., “More money has been lost reaching for yield than at the point of a gun.”

Google Books
Winning the Money Game:
No-Nonsense Answers for You and Your Money

By Tama McAleese
Parker, CO: Summit Financial Products
1998
Pg. 310:
More money has been lost searching for higher returns than at the point of a gun.

Google Books
February 2003, Kiplinger’s Personal Finance, pg. 40, col. 1:
As Jeffrey Gundlach, a bond manager at the TCW Galileo funds, notes: “More money has been lost chasing yields than at the point of a gun.”

Google Books
Financially Speaking:
How to deliver high-impact presentations for the financial services industry

By Robert A Leo
North Fork Press
2004
Pg. 44:
More money has been lost reaching for yield than at the point of a gun. -
RAYMOND F. DEVOE, JR.

The Big Picture
COMMENTS
Brings to mind the saying, “More money has been lost chasing yields than at the point of a gun.”
Posted by Andy Nardone Aug. 12, 2005 0:33:42 AM

Google Books
Hedgehogging
By Barton Biggs
Hoboken, NJ: John Wiley
2007
Pg. 142:
As one wag put it, “More money has been lost reaching for yield than at the point of a gun.”

Newsroom Magazine
Pushing Money Around Is Not Banking
By Robert Butche
Published: Wednesday, November 4, 2009
(...)
More money has been lost because of the words this time is different than at the point of a gun.
Carmen Reinhart
Economist

The Globe and Mail (Toronto)
Don’t let your search for yield blind you to risk
By Tom Bradley
Published on Saturday, Jan. 23, 2010 12:00AM EST
(...)
As the old saying goes, “More money has been lost reaching for yield than at the point of a gun.”

Posted by Barry Popik
New York CityBanking/Finance/Insurance • (0) Comments • Saturday, January 23, 2010 • Permalink