By the mid-1950s, the young bond traders on the Street were becoming more and more of a fraternity. We organized informal luncheons every Thursday in an effort to educate financial writers, who knew next to nothing about municipal bonds.

I sometimes think that the only person fit to inherit wealth is the person who doesn't need an inheritance - the person who would create his own fortune no matter what his start in life - and have come to view inherited wealth as an affliction.

Trading demands total concentration and the ability to do several things at once while instantly recalling trading prices from the day, or week, before.

William E. Simon Quotes