A Quote by Charlie Munger
The stupid and dishonest accountants allowed the genie of totally inappropriate accounting to descend on derivatives books. And once this has happened - people get status, etc. - it's impossible to get it back into the bottle.
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Everyone caved, adopted loose [accounting] standards, and created exotic derivatives linked to theoretical models. As a result, all kinds of earnings, blessed by accountants, are not really being earned. When you reach for the money, it melts away. It was never there. It [accounting for derivatives] is just disgusting. It is a sewer, and if I'm right, there will be hell to pay in due course. All of you will have to prepare to deal with a blow-up of derivative books.
I think the American people recognize that the world has shrunk. That it's interconnected. That you're not going to put that genie back in the bottle.
Every time you drink an inferior bottle, it is as if you took a fine bottle and smashed it against a wall. You can't get that bottle back!
The tech genie is out of the bottle; you can't put it back in.
It's too late by the way, with virtual reality. You can't put the genie back into the bottle.
Stupid religion makes stupid beliefs, stupid leaders make stupid rules, stupid environment makes stupid health, stupid companions makes stupid behaviour, stupid movies makes stupid acts, stupid food makes stupid skin, stupid bed makes stupid sleep, stupid ideas makes stupid decisions, stupid clothes makes stupid appearance. Lets get rid of stupidity from our stupid short lives.
Inappropriate macro economic policies in some economies, characterised by [a] low savings rate and high consumption [and] failure of financial supervision and regulation to keep up with innovation which allowed financial derivatives to spread.
In any discussion of technology, you hear the same argument: You can't turn the clock back and you can't put the genie back in the bottle. Maybe not. But there are steps we can take to limit the social harm caused by this industry, just like we do with others.
Everybody that wants to be successful should always be careful of what you wish for. A lot of artists and entertainers want to put the genie back in the bottle and wish they could go back to being what they were.
We have had many wars with other countries and when a prisoner comes back they get many benefits, they get a house, they get a salary and I want the Iraqi government to do this for the Yazidi women so that they can have the social status that would allow a good future, a good family and a good status in society.
I want to find a genie in a bottle that can grant me three wishes. I want to be able to speak, read, write, and understand any language ever written or spoken, just any language throughout the history of man. That would be one of my wishes from the genie, so I would have to put "multilingual" on the resume, should I ever find the genie.
My kids download 10 games. They play them all for two minutes. They throw away the eight they don't like. Then they play those last two obsessively for a month. That's alien to those of us who buy a $60 game and play it for 40 or 50 hours. The discovery mechanism is completely social, and I don't think you get that genie back in the bottle.
You get respect in society if you are aggressive. If you fight then people respect you. If you fight back, people like you for that as well. When Ive been beaten up, if Ive been in a pub doing nothing wrong, the fact I chose not to fight back, that I would never throw a punch back, people say Im weak. I dont think thats a weak thing at all. I think why should I descend to their level? If Ive done nothing wrong, throwing a punch back makes me as bad and corrupt as them. As evil as them, as stupid as them.
I found all these stupid pictures of cats at the beach, and I was like, "They get it, man. They totally get it."
We have to get families back in the game, get back where Saturday night, everything stops. A case of beer comes out and a bottle of rye and anyone who comes to the house, they better want to watch hockey.
If you are hired to shake up the system, do it. No one will believe you're the boss until you do one or more of the following: 1. Add a new division; 2. Lop off a present department; 3. Add new people or reassign and reward present employees; 4. Get rid of deadwood; 5. Change the method of accounting; 6. Change lawyers, accountants, or other outside services; 7. Ask a lot of questions, and demand answers by a certain date; 8. Get in touch with key people in your industry or city and arrange personal meetings; 9. Improve working conditions; 10. Update present benefit plans.
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