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About this quote

What does it mean?
Observes that financial mismanagement or loss of money is no longer limited to fools but affects everyone.
In plain terms
Money isn't just lost by fools anymore; everyone makes financial mistakes.
What can you take from it?
Financial wisdom is rare and errors are common across all groups.

Where it applies

  • financial planning
  • economic downturns
  • personal budgeting

Putting it to work

  • educate on finance
  • avoid risky bets
  • plan for errors

Questions to consider

  • Why do financial mistakes happen to smart people?
  • What role does luck play in money?

Another view

It oversimplifies the difference between systemic issues and individual choices.

More from Adlai Stevenson

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  2. There are worse things than losing an election; the worst thing is to lose one's convictions and not tell the people the truth.

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  3. You can tell the size of a man by the size of the thing that makes him mad.

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