Barry Ritholtz Quotes
The market is going to love it. The market always seems to applaud major mergers, even though the vast majority of them don't work out and don't increase shareholder value.
The good news is that economists are intelligent, engaging and often charming folks. The bad news is their work is often of little use to investors.
This ugly duckling investment will likely need time - quarters, or even years - to blossom into a beautiful swan.
If I am going to trash others for their dumb predictions, I must at least hold myself to the same sort of accountability.
One thing I detest most about the financial press is the lack of accountability. All sorts of nonsense is said without penalty.
Unlike cheap stocks, inexpensive asset classes have a lower chance of big drawdowns (broad asset classes don't go to zero) and a higher probability of average or better returns.
History is replete with examples of tech firms that were marginalized by new companies and technologies.
Keynes vs Hayek? Friedman vs Krugman? Those are the wrong intellectual debates. Its you vs. Tony Hayward, BP CEO, You vs. Lloyd Blankfein, Goldman Sachs CEO. And you are losing...
Forecasting is simply not a strength of the species we are much better with tools and narrative storytelling.
The way we finance homes in this country is slow, filled with middlemen, who run a nonstandardized evaluation process. This makes financing a home cumbersome and difficult.
There is a shortage of doctors, and the American Medical Association is aiming to keep it that way.
Many hedge fund managers have become billionaires perhaps this - plus their reputations as the smartest guys in the room - is why they have captured the investing public's imagination.