A Quote by Gary Weiss
Shorts wager on price declines by selling shares that they have borrowed in the hope of buying them back at far lower prices.
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We think of prices as simply the notation of how much we must pay for things. But the price system accomplishes far more than that. Hundreds of millions of people buying and selling, and abstaining from buying and selling, generate a system of signals - prices to producers and consumers about relative scarcities and demand. Through this system, consumers can convey to producers their subjective priorities and entrepreneurs can invest accordingly.
One market paradigm that I take exception to is: Buy low and sell high. I believe far more money is made by buying high and selling at even higher prices.
That's what I tried to share in this book, Back From The Dead, the ability to learn, to dream, to hope. In a world that is far too often selling fear and death, I'm selling hope and life and success and that's why I chose to be part of the Grateful Dead.
The Fed's buying is far more important to the market price of U.S. debt than any other economic variable. If the Fed stops buying, it doesn't matter whether unemployment goes up or down. It doesn't matter whether inflation is higher or lower. Its influence on the market is dominant.
[The masses] ... must turn their hopes toward a miracle. In the depths of their despair reason cannot be believed, truth must be false, and lies must be truth. "Higher bread prices," "lower bread prices," "unchanged bread prices" have all failed. The only hope lies in a kind of bread price which is none of these, which nobody has ever seen before, and which belies the evidence of one's reason.
A lot of share-buying, not bargain-seeking, is designed to prop stock prices up. Thirty to 40 years ago, it was very profitable to look at companies that were aggressively buying their own shares. They were motivated simply to buy below what it was worth.
Who can complain about the price that Google is charging you? Or who can complain about Amazon's prices; they are simply lower than the competition's. And that's why I think we need to shift back to a more Brandeisian conception of antitrust, where we consider values other than simply efficiency and low prices.
The idea that when people see prices falling they will stop buying those cheaper goods or cheaper food does not make much sense. And aiming for 2 percent inflation every year means that after a decade prices are more than 25 percent higher and the price level doubles every generation. That is not price stability, yet they call it price stability. I just do not understand central banks wanting a little inflation.
I've made money over the years by buying into good companies, run by good people, at attractive prices. And I don't try and make it out of buying into the market at one point and selling at another point.
People always get what they want. But there is a price for everything. Failures are either those who do not know what they want or are not prepared to pay the price asked them. The price varies from individual to individual. Some get things at bargain-sale prices, others only at famine prices. But it is no use grumbling. Whatever price you are asked, you must pay.
Auctions typically are an opportunity for you to be able to acquire what you're looking for at a lower price; typically, the auctioneer sets the opening price at much lower than the retail price and certain interest develops and as more people come in it drives the price up.
From the spring of 1941, I controlled all prices in the United States. You could lower a price without my permission, but you couldn't raise a price without my permission or that of my staff.
One of the biggest changes in my lifetime, is the phenomenon of men wearing shorts. Men never wore shorts when I was young. This is one of the worst changes, by far. It's disgusting. To have to sit next to grown men on the subway in the summer, and they're wearing shorts? They look ridiculous, like children, and I can't take them seriously. My fashion advice, particularly to men wearing shorts: Ask yourself, 'Could I make a living modeling these shorts?' If the answer is no, then change your clothes. Put on a pair of pants.
There are substantial rewards for adopting a regular routine of investing and following it no matter what, and additional rewards for buying more shares when most investors are scared into selling.
In industries where a lot of competitors are selling the same product - mangoes, gasoline, DVD players - price is the easiest way to distinguish yourself. The hope is that if you cut prices enough you can increase your market share, and even your profits. But this works only if your competitors won't, or can't, follow suit.
So, you're seeing the Rolls-Royces and the Bentley's still selling for big prices. You're seeing jewelry still selling, art works at auction. There was a diamond that sold for I think 38 million, 48 million, something like that just a week ago. So prices are back up to their highs, getting stronger and more and more people seem to have more and more money to spend.
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