A Quote by Howard Warren Buffett
I mean the whole economy just comes to a grinding halt. Competence in markets and in institutions, it's a lot like oxygen. When you have it, you don't even think about it. Indispensable. You can go years without thinking about it. When it's gone for five minutes, it's the only thing you think about. And the oxygen has been sucked out of the credit markets.
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Confidence in markets and in institutions, it's a lot like oxygen. When you have it, you don't even think about it. It's indispensable. You can go years without thinking about it. When it's gone for five minutes, it's the only thing to think about.
Having spent 10 years studying emerging markets, I know that you have patterns repeated over and over again. A bubble is like a fire which needs oxygen to continue... when you see there is no oxygen, things change.
I think at this point I only write books about questions I really want to figure out. They're indulgences, essentially. I think, 'What would I like to spend five years really thinking about? What could I gain from thinking about for five years?'
I'm just thinking all the time. There are times when I don't really need to think. You know what I mean? If you think about stuff for five hours, you really only need to do like five minutes and the rest of sort of rehashing it and dramatically going over it.
I felt okay for the first 45 seconds, and then my vision grew fussy. My lungs felt like deflated balloons. I would have sucked oxygen through my ears, if that were possible. I was experiencing oxygen debt, or perhaps better stated, oxygen death.
It's not about big markets or small markets. It's not about dominant teams or not. It's about the actual competition and how good the games are, how good the series turn out. That's what I think is the most important for fans.
The thing about markets, and I think the thing people don't understand about that, is markets are not kind, but they're very efficient. So when the marketplace determines an inefficiency in the system, it corrects that, and a market system that's left alone will reward good behavior and punish bad behavior.
I think the good thing about World TeamTennis is different sized markets can have teams. We have a mix of markets and that's the beauty of World TeamTennis. We don't have to be only in the big market.
What I don't like about teaching is hearing myself say the same thing. I mean, you just want to sort of shoot yourself after a while. But you don't have a million different ways of thinking about what you have been thinking about for many years. And then there's the truism that you're only as good as your students. If they're not into what's going on, it doesn't matter who you are.
But hey, man, if I summited K2 in winter, without oxygen, frost-nipped fingers are a small price to pay. It was worth it. Think about it, things could have been a lot worse.
Markets can't think about anything beyond about three months. This is very long-term for markets, which is why the important things in life have got to be taken outside of the marketplace.
I think there's a lot of merit in an international economy and global markets, but they're not sufficient because markets don't look after social needs.
Markets cant think about anything beyond about three months. This is very long-term for markets, which is why the important things in life have got to be taken outside of the marketplace.
I started in business journalism from the outside, so when I started writing about markets and business, I was struck by the fact that markets seemed to work well even though people are often irrational, lack good information and are not perfect in the way they think about decisions.
You know the oxygen masks on airplanes? I don't think there's really any oxygen. I think they're just to muffle the screams.
There's something about us using the word fascism and thinking about, "What is it? What does it mean, and what are the tenets of it?" I've been thinking a lot about folks denying what has happened in history, or just not acknowledging it. I think there's something that's fascist, and something that I think we could probably learn from, in terms of the energy in the world right now.
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