J.P. Morgan on the fear of missing out

Nothing so undermines your financial judgment as the sight or your neighbor getting rich.

~ J.P. Morgan, following the Panic of 1907

Harold Evans: JP Morgan's influence on Calvin Coolidge

The great banking house of JP Morgan had the president [Calvin Coolidge] on a "preferred list" by which the bank's influential friends were given a chance to buy stock at half price. Shall we say, they made out like bandits?

~ Harold Evans, "Banker + gangster = bankster," BBC, January 30, 2009