Customer Quote by Irving Fisher
““As a matter of fact, what investment can we find which offers real fixity or certainty of income? ... As every reader of this book will clearly see, the man or woman who invests in bonds is speculating in the general level of prices, or the purchasing power of money””
About This Quote
Source Book: The Theory of Interest, Irving Fisher, 1930
Investing in bonds is essentially a bet on overall price levels and money’s purchasing power, not a guarantee of fixed income.
In simple terms: Bonds are speculative on inflation and price changes.
Key Takeaway
Treat bond investments as risk‑aware decisions.
Themes
economics
finance
investment theory
Mood
cautious
analytical
Type
financial
strategic
When to use this quote
- portfolio diversification
- retirement planning
- inflation hedging
Key Concepts
inflation risk
interest rate risk
speculation
Questions to Reflect On
- How do you protect income from inflation?
- What alternatives offer more certainty?
A Different Perspective
Bond returns can be eroded by unexpected inflation.
![“The U. S. is headed toward a period of business depression... beginning within the next two years, which may exceed that which preceded the War. ... The only thing that will save us is a new gold policy or the discovery of a new process or additional gold fields. If the fall [of gold production]…” quote by Irving Fisher](https://sms4smile.com/quotes/img-quotes/dfd/irving-fisher-29435_accidents_the-u-s-is-headed-toward-a-period-of-bus_1719582.jpg)
