By Gerald Loeb
All investment is speculation. The only difference is that some people admit it and some don’t.
— Gerald Loeb
Quoted by Max Gunther in his book The Zurich Axioms.
Loeb was a founding partner of the Wall Street brokerage E.F. Hutton & Company.
Also by Loeb in his book Battle for Investment Survival:
The greatest safety lies in putting all your eggs in one basket and watching the basket.