Paul Samuelson dies at age 94

Legendary economist, Nobel laureate and author Paul Samuelson has died at the age of 94 (see Paul Krugman’s blog post).

I first came to know his name from what he has said below on investing (which is also my favourite investment quote):

Investing should be dull. It shouldn’t be exciting. Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas. — Source

Paul Samuelson was referring to the emotional traps (overconfidence, market timing, performance chasing, etc.) that investors often fall into. And that investors would be better off doing it passively. It is also the investment philosophy I adopt and wrote about it in this post 3 years ago.

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