Don Chance's DerivaQuote Site

DerivaQuote is a collection of quotations mostly about derivatives but also about other aspects of finance and economics. I have assembled these from the hundreds of articles I have read over the years. Most of them do directly address the subjects under which they are classified. In many others, however, the speaker/writer was not talking at all about derivatives or anything related, but said something that has meaning in the context of the subject classification.

In the pages that follow you will find quotes from three distinct groups of people. Naturally you'll hear from the notables ofr contemporary business, government and academia such as Arthur Levitt, George Soros, Leo Melamed, George Bush, Louis Rukeyser, Merton Miller, Gerald Corrigan, Ann Coulter, Lloyd Bensten, Patrick Arbor and Jack Sandner.

You'll also hear from other well-known contemporaries not known for saying anything about the subject. This group includes Dave Barry, Tim Allen, Tom Clancy, Elton John and Crosby, Stills and Nash.

Finally, I've taken some quotes from the most famous people of all time. Naturally they weren't talking about derivatives or finance but what they say has meaning in this context. This list includes H. L. Mencken, Francis Bacon, Ambrose Bierce, Albert Einstein, Winston Churchill, Mark Twain, Joseph Conrad, Samuel Johnson, Washington Irving, A. N. Whitehead, Benjamin Disraeli, Max Planck, Oscar Wilde, St. Thomas Acquinas and Leonardo DaVinci. Some other passages are from the Bible or are simply adages, proverbs, etc. of which no one knows the source.

I apologize for any errors or misstatements. Please send any corrections to me at

Stocks, Bonds and Derivatives (22) Valuation and Pricing Assets and Derivatives (14)
Derivatives: Blessing or Curse (15) Complex and Exotic Instruments (12)
Trading (41) Commodity Derivatives (7)
The Exchange (7) Volatility (4)
Life in the Pits (26) The Efficient Market (11)
Traders and their Lives (20) Credit and Systemic Risk (7)
Women in Derivatives (7) Fallout from Derivatives Losses (31)
Making Money (and Losing It) (31) International Finance (8)
Money and Time (3) Government and Regulation (17)
The Future (12) Brokers, Dealers and Investment Bankers (7)
Risk and Uncertainty (33) Derivatives and Accounting (2)
Hedging (11) Selling Derivatives (and buying them) (9)
Speculation (8) Banking and Derivatives (10)
Risk Management (51) On Finance (10)
Pricing Theory (8) In Conclusion (3)
Science, Mathematics, Finance and Its People (30) Postscript (1)


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Last updated: June 5, 2016