A Quote by Barry Ritholtz
Here is a dirty little secret: Stock-picking is wildly overrated. Sure, it makes for great cocktail party chatter, and what is more fun than delving into a company's new products? But the truth is that individual stocks are riskier than broad indices.
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When you buy enough stocks to give you control of a target company, that's called mergers and acquisitions or corporate raiding. Hedge funds have been doing this, as well as corporate financial managers. With borrowed money you can take over or raid a foreign company too. So, you're having a monopolistic consolidation process that's pushed up the market, because in order to buy a company or arrange a merger, you have to offer more than the going stock-market price. You have to convince existing holders of a stock to sell out to you by paying them more than they'd otherwise get.
You shouldn't trust the judgments of stock brokers picking individual stocks.
John W. Snow was paid more than $50 million in salary, bonus and stock in his nearly 12 years as chairman of the CSX Corporation, the railroad company. During that period, the company's profits fell, and its stock rose a bit more than half as much as that of the average big company.
I love how I can see [on Twitter] some of the thoughts and ideas of my favorite cultural figures and still also chatter with my friends and family. It's a cocktail party with a fraction of the awkwardness of an actual cocktail party.
I have never for a minute felt in was my stock picking abilities. I feel that my stock picking abilities aided- I was able to pick out which are the good stocks in the good market, but I have been blessed with a great market.
Will customers keep supporting the enormous overhead required to sustain ineffectual, unproductive stock picking across an array of thousands of individual funds devoted to every investing 'style' and economic sector or regional subgroup that some marketing idiot can dream up? Not likely. A brutal shakeout is coming and one of its revelations will be that stock picking is a grossly overrated piece of the puzzle, that cost control is what distinguishes a competitive firm from an uncompetitive one.
I think there are a lot of people out there that are speculating in the stock market. They have all kinds of tech stocks or social media stocks. If you want to gamble in the stock market, I would much rather gamble on a mining stock than a social media stock.
If you hope to have more money tomorrow than you have today, you've got to put a chunk of your assets into stocks. Sooner or later, a portfolio of stocks or stock mutual funds will turn out to be a lot more valuable than a portfolio of bonds or CDs or money-market funds.
I don't think it makes any sense for an individual to invest in common stocks unless they know the company, work at the company, and so on.
The stock market has gone up and if you are stock picking, that's fine, you may do a bit better than the market. But if you want to play in another game where you can get rapid increases of value and so on and so forth, this apparently has become the new parlour game, to invest in these companies and many their cases, the private equity that has been piling in onto of the venture capital is creating the unicorn, in other words the company with the $1 billion valuation.
Social media should be more like a cocktail party than anything else. You can have your fun jokes, and you can also express yourself and your beliefs. It's a conversation, not a sledgehammer.
In university courses we do exercises. Term papers, quizzes, final examinations are not meant for publication. We move through a course on Dostoevsky or Poe as we move through a mildly good cocktail party, picking up the good bits of food or conversation, bearing with the rest, going home when it comes to seem the reasonable thing to do. Art, at those moments when it feels most like art -- when we feel most alive, most alert, most triumphant -- is less like a cocktail party than a tank full of sharks.
Steve Jobs had very strong feelings about what makes a company great, what makes products great. He more or less chose Tim Cook to be in that role, in that position.
Poetry was my dirty little secret when I was a fiction writer at Iowa, and then fiction became my dirty little secret when I started writing more poetry and working for 'Rookie'.
My passion has been to build an enduring company where people were motivated to make great products. Everything else was secondary. Sure, it was great to make a profit, because that was what allowed you to make great products. But the products, not the profits were the motivation.
The truth, the whole truth, nothing but the truth. Little men are dissolved in it. If there is any gold, truth makes it shine more brightly. . . .Truth, even in the mouth of an informer, a spy, a briber, can become bigger than anybody who tries to destroy it. Truth survives.
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