Will Rogers' Timeless Investing Wisdom

Will Rogers was an iconic American cowboy, actor, and social commentator with a lot to say about investing. His quotes on the subject are numerous, and they cover everything from the role of bankers and the stock market to personal finance and business advice. For example, he advised people not to gamble but to put their savings into good stocks and hold them until they went up. He also said that people who do their jobs exceptionally well are the ones who get paid the most. Rogers also had some choice words for bankers, saying that they were likeable rascals who didn't know any more about finances than the average person.

Investing in stocks

Will Rogers was an American actor and social commentator, who had plenty to say about investing in stocks.

Rogers was not a fan of gambling, and advised people to take their savings and invest in good stocks, holding them until they went up in value, and then selling. He also believed that if a stock was not going to go up, it was not worth buying. This is a simple strategy, but one that requires careful research and an understanding of the market.

Rogers was also critical of the way in which businesses would merge when they were not doing well, and how this was seen as a positive move by the American people. He believed that the focus on the stock price going up, rather than the dividends, was a mistake. This is an important point for investors to consider—while a rising stock price is great, it is also important to look at the fundamentals of the business and the dividends on offer.

Rogers also commented on the role of bankers in the stock market, and how they were often seen as "likeable rascals". He noted that bankers did not necessarily know any more about finances than the average person, and that this had been proven "to be nothing". This is an important reminder that investors should do their own research and not rely solely on the advice of financial professionals.

Overall, Will Rogers offered some insightful and humorous commentary on investing in stocks. His advice to focus on buying good stocks, and holding them until they increase in value, is a strategy that many investors still follow today. However, he also warned against getting caught up in speculation and the herd mentality, and reminded people to focus on the fundamentals and do their own research.

Borrowing money

Rogers' advice was to avoid borrowing if possible: "You can't break a man that doesn't borrow; he may not have anything, but Boy! he can look the World in the face and say, 'I don't owe you Birds a nickel'". He believed that people should save their money instead of spending it on credit: "Spending when we didn’t have it put us where we are today. Saving when we’ve got it will get us back to where we were before we went cuckoo".

Rogers also had some advice for those who were already in debt: "If you find yourself in a hole, the first thing is to stop digging". He recommended paying off debts and buying things only with cash that you already had: "Do the best you can, and don’t take life too serious".

While Will Rogers was cautious about borrowing, he did acknowledge that sometimes it was necessary to borrow money to achieve your goals. In modern times, Rogers Capital offers individuals and businesses the ability to borrow cash with a range of credit facilities at attractive interest rates and flexible repayment methods.

Bankers and banks

Will Rogers had a lot to say about bankers and banks. In a speech to the American Bankers Association convention in New York City, he said:

> You have a wonderful organization. I understand you have ten thousand here. And if you count the ones in the various federal prisons, it brings your total membership up to around thirty thousand.

Rogers also criticised bankers for their role in the Great Depression, arguing that it was caused by "gambling, not in the stock market alone but in expanding and borrowing and going in debt, all just to make some money quick." He believed that people should not borrow money, saying:

> You can’t break a man that don’t borrow; he may not have anything, but Boy! he can look the World in the face and say, “I don’t owe you Birds a nickel.”

He also had little sympathy for banks that failed, stating:

> The bankers just got a good cussing by everybody for loaning too much money. Well, they got some awful nice buildings. So when a banker fails, he fails in splendor.

Rogers was also critical of the government's response to the financial crisis, arguing that they should have let the banks fail instead of bailing them out. He believed that the bailouts only benefited the rich, saying:

> See where Congress passed a two Billion dollar bill to relieve bankers’ mistakes. You can always count on us helping those who have lost part of their fortune, but our whole history records nary a case where the loan was for the man who had absolutely nothing.

When it came to Wall Street, Rogers was equally scathing. He believed that speculation and overcapitalization were major problems, and that buyers were often uneducated and fell for scams. He also thought that the stock market was too volatile and that corrections were necessary to maintain stability.

In addition to his views on traditional banking, Rogers also commented on central bankers and their impact on the economy. He believed that they were incompetent and caused more problems than they solved. He advocated for the abolition of central banks, arguing that they were ruining the economy by printing money and running up massive debts.

Spending and saving

Will Rogers, an American actor, is famous for his quote about spending and saving:

> "Too many people spend money they haven't earned, to buy things they don't want, to impress people they don't like."

This quote highlights the issue of people spending excessively without considering their financial situation or personal preferences. It criticises the pressure to impress others by acquiring material possessions, even if it means going into debt. By emphasising the dissatisfaction of spending on things one doesn't desire to impress people they have no genuine connection with, the quote suggests the importance of financial prudence and being true to oneself.

Rogers' quote encourages individuals to prioritise saving over spending on unnecessary items. It is important to spend within one's means and not get caught up in impressing others. This can lead to financial anxiety, which is a common issue, with 53% of adults in the US experiencing it.

Another quote by Rogers also relates to the topic of spending and saving:

> "Money doesn't grow on trees. I love this Will Rogers quote on money. It's hard to earn so why would we try and spend our hard-earned money trying to impress people we don't really care a lot about?"

This quote further emphasises the value of money and the importance of not wasting it on trying to impress others. It encourages individuals to spend their money wisely and only on things that truly matter to them.

Overall, Will Rogers' quotes on spending and saving provide valuable insights into financial literacy and the importance of being prudent with one's finances.

Investing and speculation

Will Rogers, the American actor and performer, was also known for his wit and wisdom about business and investing. His quotes on the subject are still relevant today and offer an interesting perspective on investing and speculation.

Rogers had a unique take on investing, as illustrated by his now-famous quote: "It is not the return on my investment that I am concerned about; it's the return of my investment." This suggests that Rogers prioritized capital preservation over potential profits, a conservative approach that many investors still adhere to today.

He also had a strong opinion about speculation, which he saw as a risky endeavour. In one of his quotes, he quipped: "We never will have any prosperity that is free from speculation till we pass a law that every time a broker or person sells something, he has got to have it sitting there in a bucket, or a bag, or a jug, or a cage, or a rat trap, or something, depending on what it is he is selling." Here, Rogers is highlighting the risky nature of speculation, where people often buy and sell based on promises or expectations rather than tangible assets.

Rogers' views on investing were shaped by his background in ranching. He once said: "I was raised on a Cattle Ranch and I never saw or heard of a Ranchman going broke (except) the ones who had borrowed money. You can’t break a man that don’t borrow; he may not have anything, but Boy! he can look the World in the face and say, 'I don’t owe you Birds a nickel.'" This experience taught him the value of financial independence and avoiding debt, which is reflected in his advice to "soak it away, put it in a savings bank, bury it, do anything but spend it."

Rogers also had a dim view of bankers, seeing them as non-essential and often irresponsible. He once joked that bankers and after-dinner speakers were the "two most Non-essential industries" in the country. Despite his scepticism of bankers, he recognised the importance of skill and hard work in any line of business, stating that "the ones who do it the best are the ones who get the most money for it."

In summary, Will Rogers' views on investing and speculation emphasised caution, financial independence, and scepticism of those who promise easy profits. His advice to focus on tangible assets and avoid debt is still relevant for investors today, especially in volatile markets where speculation can lead to significant losses.

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