At SmallBusiness.com, we do not report on the ups and downs of Wall Street. Why? Because there are countless analysts with unlimited resources who get paid to do that. However, there are two experts we turn to whenever we see people panicking due to any fear, like, say, 9/11, or the Great Recession or the ups and downs of anything. During such an event, we turn to Warren Buffett and Franklin Roosevelt who remind us…
First of all, let me assert my firm belief that the only thing we have to fear is fear itself — nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance. In every dark hour of our national life, a leadership of frankness and vigor has met with that understanding and support of the people themselves which is essential to victory.
Franklin D. Roosevelt
First inaugural address
(March 4, 1933)
You want to be greedy when others are fearful. You want to be fearful when others are greedy. It’s that simple.
Charlie Rose Show
(Wed, October 1, 2008)