Customer Quote by James Hilton
““He said this with such simplicity that Conway could not help responding: “I’m not much of an authority on what people call high finance.” It was a lead, and the American accepted it without the slightest reluctance. “High finance,” he said, “is mostly a lot of bunk.” “So I’ve often suspected.” “Look here, Conway, I’ll put it like this. A feller does what he’s been doing for years, and what lots of other fellers have been doing, and suddenly the market goes against him. He can’t help it, but he braces up and waits for the turn. But somehow the turn don’t come as it always used to, and when he’s lost ten million dollars or so he reads in some paper that a Swede professor thinks it’s the end of the world. Now I ask you, does that sort of thing help markets? Of course, it gives him a bit of a shock, but he still can’t help it. And there he is till the cops come—if he waits for ’em. I didn’t.””
About This Quote
Source Novel: Lost Horizon by James Hilton, 1933
High finance is often driven by hype and panic rather than solid fundamentals, leading to irrational market behavior.
In simple terms: Markets react to hype, not logic.
Key Takeaway
Beware hype, focus on fundamentals.
Themes
finance
psychology
market dynamics
Mood
cautious
analytical
Type
advisory
analytical
When to use this quote
- trading
- investment decisions
- risk management
- media consumption
Key Concepts
behavioral economics
risk perception
information cascades
Questions to Reflect On
- How do you differentiate signal from noise?
- What safeguards can limit panic?
A Different Perspective
Hype can cause overreactions that distort prices.
