Quotes on Margin Trading

I think I am safe in asserting that the margin trader, speculator, gambler, or whatever you choose to designate the average man who goes to Wall Street after easy money, does not lose money when he sells. He loses it when he buys!

Wall Street is pure economics and when profit opportunities look good, debt leverage makes them look better.

I had a margin call in 1924, and I swore I never would buy on margin again. That's one of the main reasons I got through the 1930s.

We learned in the '20s that markets with participants playing heavily on margins could be more dangerous than markets where people are dealing in cash.

Be careful of leverage. It can go against you.

When you have a family, and a house, and the market is going down, and you're on margin, it's probably too much pressure for you to do the right research and the right kind of thinking to make good decisions.

Warren and I are chicken about buying stocks on margin. There's always a slight chance of catastrophe when you own securities pledged to others. The ideal is to borrow in a way no temporary thing can disturb you.