A Quote by Benjamin Graham
No statement is more true and better applicable to Wall Street than the famous warning of Santayana: "Those who do not remember the past are condemned to repeat it".
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Santayana's aphorism must be reversed: too often it is those who can remember the past who are condemned to repeat it.
Many pundits today are in the habit of misquoting Santayana's epigram, Those who cannot remember the past are condemned to repeat it. Maybe some people have come to grief this way, but they are probably fewer than those who have fallen into the opposite error. One is apt to perish in politics from too much memory, Tocqueville wrote somewhere, with equal truth and greater insight.
You know that old phrase ‘Those who don’t remember the past are condemned to repeat it’? Well, I think those who remember the past are even worse off.
Those who do not remember the past are condemned to repeat it.
Those who cannot remember the past are condemned to repeat it.
Those who don't remember the past are condemned to repeat the eleventh grade.
Those who cannot remember the past are condemned to repeat it without a sense of ironic futility.
Progress, far from consisting in change, depends on retentiveness. Those who cannot remember the past are condemned to repeat it.
Those who cannot remember the pastare condemned to repeat it. or: Those who have never heard of good system development practice are condemned to reinvent it.
I've got news for Mr. Santayana: we're doomed to repeat the past no matter what. That's what it is to be alive.
History gives us a kind of chart, and we dare not surrender even a small rushlight in the darkness. The hasty reformer who does not remember the past will find himself condemned to repeat it.
In some ways more painful is the fact that their experience appears to be fading from the collective memory of humankind. Having never experienced an atomic bombing, the vast majority around the world can only vaguely imagine such horror, and these days, John Hersey's Hiroshima and Jonathan Schell's The Fate of the Earth are all but forgotten. As predicted by the saying, 'Those who cannot remember the past are condemned to repeat it,' the probability that nuclear weapons will be used and the danger of nuclear war are increasing.
Wall Street shouldn't be deregulated. I think Wall Street and Main Street need to play by the same set of rules. The middle-class can't carry the burden any longer, that is what happened in the last decade. They had to bail out Wall Street.
The ideas which now pass for brilliant innovations and advances are in fact mere revivals of ancient errors, and a further proof of the dictum that those who are ignorant of the past are condemned to repeat it.
Those who don't remember the past are doomed to repeat it.
... the loss of public confidence in the financial community growing out of its own conduct in recent years. I insist that more damage has been done to stock values and to the future of equities from inside Wall Street than from outside Wall Street.
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