A Quote by James Chanos
While short sellers probably will never be popular on Wall Street, they often are the ones wearing the white hats when it comes to looking for and identifying the bad guys!
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The whites have always had the say in America. White people made Jesus white, angels white, the Last Supper white. If I threaten you, I'm blackmailing you. A black cat is bad luck. If you're put out of a club, you're blackballed. Angel's-food cake is white; devil's-food cake is black. Good guys in cowboy movies wear white hats. The bad guys always wore black hats.
If you think Wall Street has a short memory, you're dead wrong. No, the folks who work on Wall Street, regulate Wall Street - and, above all, invest in its wares, notably its hedge funds - don't have a bad memory. They don't have any memory at all.
When your characters are not white hats or black hats but something in between, you do have to be very careful about your details. So, that takes a while. I'm not interested in white hats and black hats. I don't think that's how people are in real life.
By incentivizing Wall Street players to sniff out inefficient or corrupt companies and bet against them, short-selling acts as a sort of policing system; legal short-sellers have been instrumental in helping expose firms like Enron and WorldCom.
Wall Street can be a dangerous place for investors. You have no choice but to do business there, but you must always be on your guard. The standard behavior of Wall Streeters is to pursue maximization of self-interest; the orientation is usually short term. This must be acknowledged, accepted, and dealt with. If you transact business with Wall Street with these caveats in mind, you can prosper. If you depend on Wall Street to help you, investment success may remain elusive.
I've never been on Wall Street. And I care about Wall Street for one reason and one reason only because what happens on Wall Street matters to Main Street.
A collapse in U.S. stock prices certainly would cause a lot of white knuckles on Wall Street. But what effect would it have on the broader U.S. economy? If Wall Street crashes, does Main Street follow? Not necessarily.
You can't manage Wall Street. Wall Street has its own viewpoints on everything. I have always believed, if you manage your business correctly, Wall Street will take care of itself.
Wall Street shouldn't be deregulated. I think Wall Street and Main Street need to play by the same set of rules. The middle-class can't carry the burden any longer, that is what happened in the last decade. They had to bail out Wall Street.
A real common problem with a lot of animals is that guys are bad, hate to say it, but they will tune into some big feature like the glasses, maybe the beard, baseball hats, you know some unique feature like that. And they'll generalize like, "Okay! All people with baseball hats or black rimmed glasses are bad."
I think Wall Street is very important, especially to tech companies. Wall Street will get in their rhythm and go fund tech companies, and tech companies will go create jobs and employ a lot of people, so there's that aspect of Wall Street.
Oh,to be walking through Leningrad white night after white night, the dawn to dusk all smelting together like platinum ore, Tatiana thought, turning away to the wall, again to the wall, the wall, as ever. Alexander, my nights, my days, my every thought. You will fall away from me in just a while, won't you, and I'll be whole again, and I will go on and feel for someone else, the way everyone does. But my innocence is forever gone.
If your guard is up, let it down. If you've constructed a defensive wall to protect yourself and keep all the bad guys out, don't forget who that wall also prevents from getting in - the good guys.
The big-ego temper tantrums of Wall Street's titans must be a concern for everyone on Wall Street. Bad behavior and manipulation of the markets must be called out by those in the industry concerned for its future.
Wall Street owns the country. It is no longer a government of the people, for the people and by the people, but a government for Wall Street, by Wall Street, and for Wall Street. The great common people of this country are slaves, and monopoly is the master…Let the bloodhounds of money who have dogged us thus far beware.
For most of Wall Street's history, stock trading was fairly straightforward: buyers and sellers gathered on exchange floors and dickered until they struck a deal.
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