Scott Nations > Quotes

“The history of modern stock market crashes invariably includes some theoretically sophisticated yet poorly understood financial contraption that mutates when stressed, pushing an already weakened system closer to the cliff.”
― Scott Nations, A History of the United States in Five Crashes: Stock Market Meltdowns That Defined a Nation

“Because despite all of our modernity, learning, and market-focused technology, passions and emotions remain the most important aspect of investing. Learning about, understanding, and accounting for your own behavioral quirks can do more to improve your long-term investing results than even a roaring bull market can.”
― Scott Nations, The Anxious Investor: Mastering the Mental Game of Investing

“Since Leland and Rubinstein were hitching a ride with Black and Scholes, portfolio insurance would rely on these “ideal conditions” and would fail when reality intruded.”
― Scott Nations, A History of the United States in Five Crashes: Stock Market Meltdowns That Defined a Nation