A Quote by Henry Sy
Regional developers have a clear head start in their home communities. They have been there longer and understand their market. As a result, these markets are, in fact, more competitive than those in Manila.
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Over the past three decades, markets and market thinking have been reaching into spheres of life traditionally governed by non-market norms. As a result, we've drifted from having a market economy to becoming a market society.
Clients are becoming more global; they're realizing that markets are more interconnected. It's no longer the local regional clients buying the local regional flavors. It's everybody asking for everything.
I think the common elements first are that, basically, we are entering markets or in markets that are deregulating or have recently deregulated, and so they have become competitive, moving from monopoly franchise-type businesses to competitive, market-oriented businesses.
The market doesn't make communities. Markets make networks of self-interested individuals, and they work as long as there's more than enough to go around.
I understand the New York media is a lot more magnified than most markets, but I'm up for that challenge. I'd definitely be suitable, and I'd be primed for a market like that.
If your home market is strong, you can be a strong global player because you have scale and can bring down the cost of production and remain competitive globally. When we started, our home market wasn't strong, so we had to do more business globally.
If you're saving for the long run, it's actually a good thing when the market is down because the more shares you have, the more you can potentially make when markets rise. And over time - decades, not months - the markets rise more than they fall.
The good news is that a competitive dollar in the global market and a strong dollar at home are compatible in both the long run and during the transition to a more competitive dollar.
We can make market forces work better for the poor if we can develop a more creative capitalism-if we can stretch the reach of market forces so that more people can make a profit, or at least make a living, serving people who are suffering from the worst inequities. ... You have more than we had; you must start sooner, and carry on longer.
Before you start trying to work out which direction the property market is headed, you should be aware that there are markets within markets.
Like its agriculture, Africa's markets are highly under-capitalized and inefficient. We know from our work around the continent that transaction costs of reaching the market, and the risks of transacting in rural, agriculture markets, are extremely high. In fact, only one third of agricultural output produced in Africa even reaches the market.
There is a bit of a problem with the match between derivative securities markets and the primary markets. We have long ago instituted principles, essentially high margin requirements, to prevent certain instabilities in the stock market, and I think they're basically correct. The trouble is that there's a linkage, let's say, between something like the stock market and the index futures markets, and the fact that the margin requirements are very different, for example, played some role in the October '87 crash.
Companies are always being bought and sold. The markets are always moving; you have to be on top of your position. And in the U.S., the market is never closed for more than three days. The only time the market was ever closed was 9/11. I think it may have been closed the whole week.
It's important to recognize the vital role that the financial markets play in our economy and that so many of you are contributing to. To function effectively those markets and the men and women who shape them have to command trust and confidence, because we all rely on the market's transparency and integrity. So even if it may not be 100 percent true, if the perception is that somehow the game is rigged, that should be a problem for all of us, and we have to be willing to make that absolutely clear.
It is more than twenty years since we left the city. This is a serious chunk of time, longer than the years we spent living there. Yet we still think of Jerusalem as our home. Not home in the sense of the place that you conduct your daily life or constantly return to. In fact, Jerusalem is our home almost against our wills. It is our home because it defines us, whether we like it or not.
If the Federal Reserve pursues a strong dollar at home while the dollar becomes more competitive in global markets, we can achieve both price stability and a more balanced path of economic growth.
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