James B. Stewart Quotes

Powerful James B. Stewart for Daily Growth

About James B. Stewart

James B. Stewart is an acclaimed American author, journalist, and law professor, renowned for his compelling narratives that blend investigative journalism with legal analysis. Born on March 31, 1947, in New York City, he spent his formative years in Great Neck, Long Island. After graduating from Phillips Exeter Academy, he attended Yale University, where he earned a Bachelor of Arts degree in English and American Literature in 1969. Stewart's professional journey began at The Wall Street Journal as a reporter. His investigative pieces on the insider trading scandal led to significant shifts in Securities and Exchange Commission (SEC) policies. In 1984, he joined The New Yorker as a staff writer, where his long-form journalism earned him a Pulitzer Prize for National Reporting in 1987. Stewart's career took an academic turn when he became a professor at New York University School of Law in 1993. His teaching and research focus on corporate governance, securities regulation, and investigative journalism. Among his notable works are "The Jury Fight" (1979), which examines the jury selection process; "Den of Thieves: Wall Street's Master Swindlers and Their Unlikely Victims" (1991), an exposé on insider trading; and "Blood Sport: The Life and Times of Steve McNally" (2005), a biography of the notorious Wall Street trader. His most influential book, however, is "Blind Eye to Murder: How Federal Prosecutors Break the Law" (1987), which sheds light on misconduct in the Department of Justice. James B. Stewart continues to be a prominent figure in both journalism and academia, known for his commitment to uncovering truths and advocating for ethical practices in business and law. His work serves as a testament to the power of investigative journalism in shaping public discourse and policy.

Interpretations of Popular Quotes

"Secrets are like open sores in a community."

This quote suggests that secrets, when kept within a group or community, can fester and create tension, mistrust, and disunity. Like an open sore, they can be painful, harmful, and infectious, leading to further conflict or decay if not addressed openly and honestly. Thus, it's often beneficial for transparency and cohesion to bring secrets out into the open and deal with them directly.


"The first wealth is health."

The quote, "The first wealth is health," by James B. Stewart underscores the importance of prioritizing physical well-being above material possessions or monetary gains. This statement emphasizes that good health should be valued as a fundamental necessity, for it paves the way to a productive and fulfilling life. It suggests that without good health, wealth in any other form may not matter much, thus placing personal health at the forefront of our concerns.


"Frauds are often as proud of their beguiling powers as honest men are of their integrity."

The quote emphasizes that fraudsters, like honest individuals who take pride in their integrity, also possess a sense of pride - but in this case, it is their ability to deceive others through manipulation and misrepresentation. This highlights the psychological complexities that drive some people to commit fraud, showing that they often view their skills as a means to achieve their goals rather than as an unethical action.


"People tend to do business with those they know, like, and trust."

This quote emphasizes the importance of building strong relationships in business, where trust, likability, and familiarity play crucial roles. When individuals feel comfortable with their counterparts due to mutual understanding, respect, and confidence, they are more likely to engage in successful transactions and long-lasting collaborations. Essentially, a congenial connection can lead to increased efficiency, effectiveness, and overall success in business interactions.


"The essence of corporate crookery is always the same: greed and deception."

This quote by James B. Stewart encapsulates the core aspects that underlie unethical or illegal business practices in corporations. Greed, representing an excessive desire for wealth, drives individuals to prioritize personal gain over moral principles, leading them to compromise integrity. Deception, on the other hand, refers to the use of falsehoods and misrepresentation to achieve these illicit goals. By combining greed and deception, corporate crookery is characterized by a systematic disregard for ethics and honesty in pursuit of financial gain.


Divestitures have long been the preferred remedy for horizontal mergers, where there's an overlap between the two companies. Airlines, for example, may have to sell routes or airport gates where the two airlines compete; cable operators may have to sell operations in cities where both companies operate.

- James B. Stewart

Two, Compete, Been, Remedy

Mr. Trump had no political or military experience, the traditional routes to high political office. Virtually his only qualification was his business career, and a checkered one at that, considering his own brush with personal bankruptcy.

- James B. Stewart

Career, Trump, Brush, Routes

The appreciation of capital assets is already taxed at an extremely favorable rate compared to labor. That's why the rich pay such a low effective tax rate no matter what their marginal tax bracket.

- James B. Stewart

Appreciation, Why, Capital, Tax Rate

The A.M.T. is a parallel system for calculating tax liability intended to ensure that high-income taxpayers pay a substantial amount in federal tax even if they have large deductions or other items to offset income.

- James B. Stewart

Income, Other, Amount, Parallel

Comparing the Trump administration to the Nazis may be a stretch, but many business leaders are concerned that stirring up deep-seated racial and nationalist animosities could be destabilizing, leading to riots, property damage and widespread civil unrest reminiscent of the late 1960s.

- James B. Stewart

Concerned, Trump, Damage, Riots

The rationale for eliminating the alternative minimum tax is that such a backup system should not be necessary if the tax code is fundamentally fair and eliminates all the loopholes that made it possible for high-income taxpayers to escape taxation in the first place.

- James B. Stewart

Fair, Code, Taxpayers, Backup

As in many cities, Uber has disrupted powerful interests in London, starting with the drivers of black cabs, who trace their lineage to 1634, and their influential Licensed Taxi Drivers Association.

- James B. Stewart

London, Cities, Lineage, Licensed

Many people in London - and in the rest of Europe - view giant American technology companies, and Uber in particular, with intense suspicion and resentment.

- James B. Stewart

Rest, London, Suspicion, Technology Companies

My experience bears out an adage about airlines: People almost always opt for convenience and price, even while complaining loudly about crowded planes and a dearth of amenities.

- James B. Stewart

Always, Loudly, Almost, Dearth

There's no question that the Internet generally, and Netflix specifically, upended the traditional content-distribution supply chain and caused profound changes in the entertainment industry.

- James B. Stewart

Question, Chain, No Question, Specifically

Mr. Trump has said he strongly supports immediate expensing of capital expenditures, which many economists agree would encourage growth.

- James B. Stewart

Trump, Capital, Which, Supports

Earning high returns isn't just a matter of bragging rights - endowment income supports the missions of nonprofit institutions, whether education, as with college and universities, or broader social programs, as at many private foundations.

- James B. Stewart

College, Income, Nonprofit, Supports

Historically, corporate aversion to politics has at times held firm even under national leadership that threatens the health of the economy, and with it the well-being of every company.

- James B. Stewart

Politics, Well-Being, Held, Threatens

Tax reform advocates generally agree that a fair code shouldn't single out certain groups for favorable treatment at the expense of others.

- James B. Stewart

Code, Treatment, Groups, Tax Reform

Losses from partnerships and limited-liability companies, the entities through which the Trumps report much of their income, do not have to be added back as part of the A.M.T. calculation.

- James B. Stewart

Through, Income, Which, Report

I'm hardly a smartphone addict. I rarely look at social media.

- James B. Stewart

Media, Social, Rarely, Hardly

Seattle was hardly a tech magnet before Amazon, Microsoft, and then a host of once-fledgling technology firms set up operations there.

- James B. Stewart

Before, Tech, Set, Hardly

For every Tesla or Uber, there's a Valeant Pharmaceuticals or Theranos - two story stocks that seduced an astounding array of prominent investors and supporters based on stories that did turn out to be too good to be true.

- James B. Stewart

Seduced, Prominent, Tesla, Array

Many tax experts say a key element to any fundamental overhaul is getting rid of certain deductions for businesses - the 'special-interest giveaways that are masked as tax breaks,' as House Republicans describe many of them in their own proposal.

- James B. Stewart

Own, Republicans, Tax Breaks

The real estate lobby has prominent allies in both parties. After the last major overhaul of the tax code, in 1986 - under a Republican president, Ronald Reagan, a Republican Senate and a Democratic House - it was a Democrat, Bill Clinton, who signed legislation that restored lost real estate tax breaks seven years later.

- James B. Stewart

Code, Prominent, Reagan, Tax Breaks

Amazon and Snap both have stories that are compelling for many investors: Amazon has transformed retailing and is destined to dominate it. Snap is reinventing communication, at least for millennials and those even younger.

- James B. Stewart

Younger, Stories, Compelling, Transformed

Republicans seem to be gambling that most Americans won't care about a few rich private equity managers if their own taxes go down, their stock portfolio goes up, and economic growth accelerates.

- James B. Stewart

Own, Private, Republicans, Economic

From what little is known of Mr. Trump's tax returns, he used losses to offset virtually all of his taxable income for years by generating something called net operating loss carry-overs.

- James B. Stewart

Income, Trump, Generating, Taxable

The idea that content is king has long rested on the notion that distribution - in whatever form it takes - is a low-margin commodity, and the biggest share of profits flows to the creators of original programming, who can sell to the highest bidder.

- James B. Stewart

Original, Commodity, Profits, Programming

The National Multifamily Housing Council, a trade association of apartment owners, managers, developers and lenders, has come to the defense of the interest deduction and other provisions favorable to the real estate industry, describing them as 'core principles' and promising a fight.

- James B. Stewart

Housing, Developers, Other, Provisions

A large and growing body of academic research suggests there are market anomalies that can be exploited to beat a strict index approach. Some of that research has been recognized with Nobels in economic science - William F. Sharpe in 1990 and Eugene F. Fama in 2013.

- James B. Stewart

Some, Been, Recognized, Strict

Mr. Trump's election has caused a tectonic shift in advertising - just as it has in media more generally - and themes that might have once seemed innocuous or patriotic have suddenly become politically charged, controversial, and divisive.

- James B. Stewart

Trump, Patriotic, Divisive, Controversial

Early investors in Uber and Airbnb, though they remain private companies, have valued them at stratospheric multiples based largely on the notion that Uber will transform and dominate local transportation and Airbnb will revolutionize the hotel industry.

- James B. Stewart

Private, Based, Though, Transportation

The bar for a chief executive of a public corporation to repudiate a United States president is extraordinarily high. Corporate leaders aren't given their power, prestige, responsibility, and nine-figure pay packages to use the corner office as their personal soapbox.

- James B. Stewart

United, Use, Soapbox, Extraordinarily

Low-volatility funds, which tend to smooth out performance, have been especially popular since the financial crisis. The PowerShares S&P 500 Low Volatility Fund is the oldest, begun in 2011.

- James B. Stewart

Financial Crisis, Which, Volatility

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