The investor with a portfolio of sound stocks should expect their prices to fluctuate and should neither be concerned by sizable declines nor become excited by sizable advances. He should always remember that market quotations are there for his convenience, either to be taken advantage of or to be ignored.
High fidelity is a rich experience, and you'll put up with terrible convenience to get it - maybe it's high cost, waiting in line, jumping through hoops. High convenience is the opposite - it's a commodity, but it's cheap and easy and ubiquitous. A great exclusive boutique shop is high fidelity; Wal-Mart is high convenience. Both are hard to establish in their own way. The thing to remember about sustaining either is that you can't sit still. Some other entity will always find a way to challenge your fidelity position or your convenience position.
I think the tech stock, the public market is still completely traumatized by the dotcom crash. I think the investors and reporters and analysts and everybody is determined to not get taken advantage of again, and that is what everybody who lived through 2000, what they kind of remember.
One element of maturity is the realization that we don't get away with anything. Any advantage gained or convenience taken, any private procrastination or insincerity, no matter how subtle or quick in passing, is paid for.
It is to the advantage of Hispanics not to be taken for granted by one party and ignored by the other. Hispanics will realize their political power only if courted and engaged by both sides.
If you spot a market where the only choices are at either one end or the other - high fidelity or high convenience - there's probably a big opportunity at the other end. That was the opening for Federal Express, for instance. When it started, there was only one mail service in America - the US Postal Service, which was high convenience. Fred Smith created a high-fidelity mail service.
I think it is possible to be friends with employees, but there has to be a respect level where you're not taken advantage of, either.
At 80 million, millennials, born between 1980 and 2000, are the largest generation in history. Yet they are a demographic Congress has historically either taken for granted or ignored altogether.
Well named, Quotology contains everything you always wanted to know about quotations, quoters, quotees, quotation books, 'quoox' (quotations out of context), and their fascinating history.
Remember that banks aren't markets. The market is amoral. The market doesn't care who you are. You're a trade to the market. The market will sell you if they think you're riskier.
I remember the will said, 'May God thy gold refine.' That must be from the Bible." "Shakespeare," Turtle said. All quotations were either from the Bible or Shakespeare.
Everybody is trying to take advantage of situations, and if you don't take advantage of a situation, you get taken advantage of by somebody else.
If the educated and influential classes in a community either practice or connive at the systematic violation of laws that seem to them to cross their convenience, what can they expect when the lesson that convenience or a supposed class interest is a sufficient cause for lawlessness has been well learned by the ignorant classes?
It is a good thing for an uneducated man to read books of quotations. Bartlett's Familiar Quotations is an admirable work, and I studied it intently. The quotations when engraved upon the memory give you good thoughts. They also make you anxious to read the authors and look for more.
Treatment of the apparently whimsical fluctuations of the stock quotations as truly non stationary processes requires a model of such complexity that its practical value is likely to be limited. An additional complication, not encompassed by most stock market models, arises from the manifestation of the market as a nonzero sum game.
Every time the market has corrected, since 2008, it's always been the Fed that's made the bottom. The Fed has always saved the market either by cutting rates, launching QE, or threatening to launch another round of QE.