--- title: "Meaning & Key Takeaway of: Fear, greed and hope have destroyed more…" description: "\"Fear, greed and hope have destroyed more portfolio value than any recession or depression we have ever been through.\" — James O'Shaughnessy" image: "https://sms4smile.com/quotes/i/57c/james-o-shaughnessy-30493_any_fear-greed-and-hope-have-destroyed-more_785675.jpg" --- # Fear, greed and hope have destroyed more portfolio value… ![“Fear, greed and hope have destroyed more portfolio value than any recession or depression we have ever been through.” quote by James O'Shaughnessy](https://sms4smile.com/quotes/i/57c/james-o-shaughnessy-30493_any_fear-greed-and-hope-have-destroyed-more_785675.jpg) [Download](https://sms4smile.com/quotes/i/57c/james-o-shaughnessy-30493_any_fear-greed-and-hope-have-destroyed-more_785675.jpg) [Open image](https://sms4smile.com/quotes/i/57c/james-o-shaughnessy-30493_any_fear-greed-and-hope-have-destroyed-more_785675.jpg) > “Fear, greed and hope have destroyed more portfolio value than any recession or depression we have ever been through.” [James O'Shaughnessy](https://sms4smile.com/quotes/author/james-o-shaughnessy/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Fear, greed, and hope cause more financial loss than economic downturns. **In simple terms:** Emotions damage portfolios. Key Takeaway Control emotions in investing. Themes finance psychology risk Mood cautious analytical Type financial educational When to use this quote - investment strategy - personal finance - financial planning Key Concepts behavioral finance market cycles Questions to Reflect On - How do emotions affect your decisions? - What strategies curb bias? A Different Perspective Market forces also impact returns. ★ ★ ★ ★ ★ No ratings yet [Depression](https://sms4smile.com/quotes/about/depression/) [Fear](https://sms4smile.com/quotes/about/fear/) [Greed](https://sms4smile.com/quotes/about/greed/) [Hope](https://sms4smile.com/quotes/about/hope/) [Recession](https://sms4smile.com/quotes/about/recession/) [Value](https://sms4smile.com/quotes/about/value/) ## Related quotes > [Even every ray of hope destroyed and not a wish to gild the gloom.](https://sms4smile.com/quotes/robert-burns/even-every-ray-of-hope-destroyed-and-not-a-wish-to-gild-the-gloom/) [Robert Burns](https://sms4smile.com/quotes/author/robert-burns/) > [If you are an investor who's retired and hopes to live off the income that your portfolio is generating, then we would focus just…](https://sms4smile.com/quotes/james-o-shaughnessy/if-you-are-an-investor-who-s-retired-and-hopes-to-live-off-the-income/) [James O'Shaughnessy](https://sms4smile.com/quotes/author/james-o-shaughnessy/) > [Three great forces rule the world: stupidity, fear and greed.](https://sms4smile.com/quotes/albert-einstein/three-great-forces-rule-the-world-stupidity-fear-and-greed/) [Albert Einstein](https://sms4smile.com/quotes/author/albert-einstein/) > [Dramatic and emotional trading experiences tend to be negative. Pride is a great banana peel, as are hope, fear, and greed. My biggest slip-ups…](https://sms4smile.com/quotes/ed-seykota/dramatic-and-emotional-trading-experiences-tend-to-be-negative-pride/) [Ed Seykota](https://sms4smile.com/quotes/author/ed-seykota/) > [“occasional outbreaks of those two super-contagious diseases, fear and greed, will forever occur in the investment community. The timing of these epidemics will be…](https://sms4smile.com/quotes/daniel-pecaut/occasional-outbreaks-of-those-two-super-contagious-diseases-fear-and/) [Daniel Pecaut](https://sms4smile.com/quotes/author/daniel-pecaut/) > [“People’s lives are forever controlled by two emotions: fear and greed. Offer them more money and they continue the cycle by increasing their spending.…](https://sms4smile.com/quotes/robert-t-kiyosaki/people-s-lives-are-forever-controlled-by-two-emotions-fear-and-greed-2/) [Robert T. Kiyosaki](https://sms4smile.com/quotes/author/robert-t-kiyosaki/) > [“Autumn is always a time of Fear and Greed and Hoarding for the winter coming on. Debt collectors are active on old people and…](https://sms4smile.com/quotes/hunter-s-thompson/autumn-is-always-a-time-of-fear-and-greed-and-hoarding-for-the-winter/) [Hunter S. Thompson](https://sms4smile.com/quotes/author/hunter-s-thompson/) > [People's lives are forever controlled by two emotions: fear and greed.](https://sms4smile.com/quotes/robert-kiyosaki/people-s-lives-are-forever-controlled-by-two-emotions-fear-and-greed/) [Robert Kiyosaki](https://sms4smile.com/quotes/author/robert-kiyosaki/) > [While neurological studies have tried to identify components responsible for fear and greed, the impact on finance is less clear.](https://sms4smile.com/quotes/andrew-lo/while-neurological-studies-have-tried-to-identify-components/) [Andrew Lo](https://sms4smile.com/quotes/author/andrew-lo/) > [Fear and greed are probably the worst emotions to have in connection with the purchase and sale of stocks.](https://sms4smile.com/quotes/walter-schloss/fear-and-greed-are-probably-the-worst-emotions-to-have-in-connection/) [Walter Schloss](https://sms4smile.com/quotes/author/walter-schloss/) > [I love the competitive part of stocks. A lot of fear and greed, that's all it is. All I see is green and red.](https://sms4smile.com/quotes/josh-brolin/i-love-the-competitive-part-of-stocks-a-lot-of-fear-and-greed-that-s/) [Josh Brolin](https://sms4smile.com/quotes/author/josh-brolin/) > [“reactions and think. That is important. We will always have emotions of fear and greed. From here on in, it’s imperative for you to…](https://sms4smile.com/quotes/robert-t-kiyosaki/reactions-and-think-that-is-important-we-will-always-have-emotions-of/) [Robert T. Kiyosaki](https://sms4smile.com/quotes/author/robert-t-kiyosaki/) > [“Fear, greed, and ego are very expensive monkeys to have on your back while trading.”](https://sms4smile.com/quotes/steve-burns/fear-greed-and-ego-are-very-expensive-monkeys-to-have-on-your-back/) [Steve Burns](https://sms4smile.com/quotes/author/steve-burns/) > [Fear and greed tend to affect one's judgement.](https://sms4smile.com/quotes/walter-schloss/fear-and-greed-tend-to-affect-one-s-judgement/) [Walter Schloss](https://sms4smile.com/quotes/author/walter-schloss/) > [During periods of extreme fear or greed, you don't have the proper balance between those two to generate market efficiency and you get extremes…](https://sms4smile.com/quotes/andrew-lo/during-periods-of-extreme-fear-or-greed-you-don-t-have-the-proper/) [Andrew Lo](https://sms4smile.com/quotes/author/andrew-lo/) ## More by James O'Shaughnessy > [The average investor does significantly worse than a simple index... It's literally because of the way our brains are wired.](https://sms4smile.com/quotes/james-o-shaughnessy/the-average-investor-does-significantly-worse-than-a-simple-index-it/) [James O'Shaughnessy](https://sms4smile.com/quotes/author/james-o-shaughnessy/) > [If you are an investor who's retired and hopes to live off the income that your portfolio is generating, then we would focus just…](https://sms4smile.com/quotes/james-o-shaughnessy/if-you-are-an-investor-who-s-retired-and-hopes-to-live-off-the-income/) [James O'Shaughnessy](https://sms4smile.com/quotes/author/james-o-shaughnessy/) > [It seems that the one thing that doesn't change is people's reaction to short-term conditions and their axiomatic ability to perpetuate them far into…](https://sms4smile.com/quotes/james-o-shaughnessy/it-seems-that-the-one-thing-that-doesn-t-change-is-people-s-reaction/) [James O'Shaughnessy](https://sms4smile.com/quotes/author/james-o-shaughnessy/) > [If you're an investor who wants a little bit more from the capital-appreciation side of things, but still likes this concept of getting 'paid…](https://sms4smile.com/quotes/james-o-shaughnessy/if-you-re-an-investor-who-wants-a-little-bit-more-from-the-capital/) [James O'Shaughnessy](https://sms4smile.com/quotes/author/james-o-shaughnessy/) > [History depends on who is telling the story.](https://sms4smile.com/quotes/james-o-shaughnessy/history-depends-on-who-is-telling-the-story/) [James O'Shaughnessy](https://sms4smile.com/quotes/author/james-o-shaughnessy/) > [Stocks change. 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After stocks have had an unusually great 10 or 20 years, they typically turn in…](https://sms4smile.com/quotes/james-o-shaughnessy/historically-we-have-always-seen-reversion-to-the-mean-after-stocks/) [James O'Shaughnessy](https://sms4smile.com/quotes/author/james-o-shaughnessy/) > [You'll get nowhere buying stocks just because they have a great story.](https://sms4smile.com/quotes/james-o-shaughnessy/you-ll-get-nowhere-buying-stocks-just-because-they-have-a-great-story/) [James O'Shaughnessy](https://sms4smile.com/quotes/author/james-o-shaughnessy/) > [We believe that people moving their portfolios to an overweight in bonds will be disappointed over the long-term and will significantly underperform an asset…](https://sms4smile.com/quotes/james-o-shaughnessy/we-believe-that-people-moving-their-portfolios-to-an-overweight-in/) [James O'Shaughnessy](https://sms4smile.com/quotes/author/james-o-shaughnessy/) [Explore all 17 James O'Shaughnessy quotes ](https://sms4smile.com/quotes/author/james-o-shaughnessy/) ## More Any quotes > [Amongst the financial Twitterati, the term 'muppets' has come to describe any client used and abused by some financial predator. 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