“The greatest bear is a sold out bull” (Wall Street adage)
Once an investor has sold a stock, it's satisfying if the stock then goes down (providing evidence that the sale was at the correct time). If the stock goes up after a sale, the investor…
Archive for 10/2008
“If you live in New York, you’re Jewish” (Lenny Bruce)
New York comedian Lenny Bruce (1925-1966) was known for his off-color material in the 1960s. In one routine, he explained what "Jewish" was, as opposed to "goyish" (not Jewish).…
Government Sachs (Goldman Sachs nickname)
The financial firm of Goldman Sachs had so many "alumni" in the government -- including Treasury Secretary Henry M. Paulson, Jr. -- that an October 2008 story in the New York (NY) Times…
“In New York, you can have a great job, a great apartment and a great companion, but not all three”
It's sometimes said that, in New York City, you can have a good job, a good apartment and a good companion -- but not all three at the same time. The origin of the saying is unknown. The…
“As January goes, so goes the year” or “January Barometer” (Wall Street proverb)
Yale Hirsch (publisher of The Stock Trader's Almanac) devised the "January Barometer" in 1972, stating: "As goes January, so goes the year." If stocks are up in the month…
“When even shoeshine boys are giving you stock tips, it’s time to sell” (Joseph P. Kennedy?)
An old Wall Street saying has it that when everybody's getting into the market and even the shoeshine boy is giving stock tips (or the barber/hairdresser or the taxi driver or the waiter or…
“The stock market abhors uncertainty” & “Money runs from uncertainty” (Wall Street adage)
An old Wall Street saying has it that the markets can handle good and bad times, but that "the stock market abhors uncertainty." The origin of the saying is unknown, but it is cited in…
“The main purpose of the stock market is to make fools of as many men as possible”
American financier Bernard Baruch (1870-1965) is usually given credit for the phrase: "The main purpose of the stock market is to make fools of as many men as possible." Contemporary…
“It will fluctuate” (J. Pierpont Morgan?)
A widely cited incident involves when J. P. Morgan (1837-1913) was asked by someone what the market would do that day. "It will fluctuate, young man. It will fluctuate," Morgan reportedly…
“The crowd is always wrong” or “The public is always wrong” (Wall Street proverb)
"The crowd is always wrong" or "The public is always wrong" is a Wall Street proverb that dates to at least 1915, where it is cited in the writings of Bertie Charles Forbes…
“Be fearful when others are greedy, and be greedy when others are fearful” (Warren Buffett)
The legendary investor Warren Buffett -- according to many websites -- gave his secret to becoming rich in a closed-door lecture at Columbia University when he was only 21 years old (that would be…
Smallbany or Smalbany or SmAlbany (Albany nickname)
New York City is the most populous city in New York State, but Albany is the capital city. Some New Yorkers (including some from Albany) have called the capital city "Smallbany" or…
Albany: Smallbany or Smalbany or SmAlbany (nickname)
New York City is the most populous city in New York State, but Albany is the capital city. Some New Yorkers (including some from Albany) have called the capital city "Smallbany" or…
“I’m from the government and I’m here to help you”
"I'm from the government and I'm here to help you" (or "We're from the government and we're here to help you") is a line from the mid-1970s, usually grouped…
“A stock is worth what someone is willing to pay for it” (Wall Street adage)
What is a stock worth? An old Wall Street adage has it that a stock is worth what someone is willing to pay for it. The pricing phrase dates to at least the 1800s. 17 December 1882, Grand Forks…
“A rising tide lifts all boats” (Wall Street proverb)
In a 1963 speech pledging the continued defense of Europe, President John F. Kennedy stated: "As they say on my own Cape Cod, 'A rising tide lifts all the boats.'" Since at…
“If you’re so smart, why aren’t you rich?”
"If you're so smart, why aren't you rich?" (or, "If you're so smart, why ain't you rich?") is a phrase sometimes heard in New York City, the nation's…
“Nobody rings a bell at the top or the bottom of a market” (Wall Street proverb)
The New York Stock Exchange opens to the sound of a bell and then closes to the sound of a bell. It's often pointed out that no one rings a bell to announce the top or the bottom of a market,…
Blisters on My Sisters (egg dish, similar to huevos rancheros)
"Blisters on My Sisters" is an egg dish served at Shopsin's (located in Essex Market, but formerly on Carmine Street). Kenny Shopsin named the dish after a lyric in a song by Frank…
Chilorio (Mexican chile-seasoned pork dish)
Chilorio is a pork dish (often used as a filling for tacos or burritos) from the Mexican state of Sinaloa. The pork is fried in chile sauce until tender and usually flavored with onions, cumin,…