A Quote by Jamie Dimon
That's probably good, all things being equal, for emerging markets, not bad, even though it may not be great for all their currencies.
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I'm still very bullish on emerging markets. There's an emerging middle class. They're a growing group of customers. And frankly, they want Walmart. They want everyday low price. And that's why we are continuing to grow in the emerging markets around the world, too.
I believe that it may happen that one will succeed, and one must not begin to despair, even though defeated here and there; and even though one sometimes feels a kind of decay, though things go differently from the expected, it is necessary to take heart again and new courage. For the great things are not done by impulse, but by a series of small things brought together. And great things are not something accidental, but must certainly be willed. What is drawing? How does one learn it? It is working through an invisible iron wall that seems to stand between what one feels and what one can do.
Complementary currencies work in addition to existing money, rather than replacing existing, official money. There are whole different families of complementary currencies. One of them is local currencies. One is regional currencies. Another is functional currencies. Another is social-purpose currencies.
In emerging markets, slow growth in the advanced economies has shut down a traditional development path: export-led growth. As a result, emerging markets have had to rely once again on domestic demand. This is always a difficult task, given the temptation to over-stimulate.
They are inherently good - the bad reactions aren't basic. Every human being is a child of God and has more good in him than evil - but circumstances and associates can step up the bad and reduce the good. I've got great faith in the essential fairness and decency - you may say goodness - of the human being.
Not exclusively, but the bulk of our local economy should be covered by local currencies, which is more efficient than having global currencies which lose connection with reality in the markets, shops and communities of the people.
To invest successfully, you need not understand beta, efficient markets, modern portfolio theory, option pricing or emerging markets. You may, in fact, be better off knowing nothing of these. That, of course, is not the prevailing view at most business schools, whose finance curriculum tends to be dominated by such subjects. In our view, though, investment students need only two well-taught courses - How to Value a Business, and How to Think About Market Prices.
If we make all of the people good, markets will be good. If markets are bad, which they are, that means people are bad, which they are. Want good markets? Change the people.
Business cycles in emerging markets behave differently from developed markets.
I've learned that many of the worst things lead to the best things, that no great thing is achieved without a couple of bad, bad things on the way to them, and that the bad things that happen to you bring, in some cases, the good things.
Giving up my scotch? My Macallan 18? That was hard for me! Though now that doesn't even sound good, being pregnant. You crave other things. A big thing of water sounds great!
Other things being equal, ill will is worse than moral indifference (as in causing suffering for money vs causing suffering to cause suffering), though things are rarely equal.
My view is that the U.S. market will eventually join the emerging markets on the downside because if you take a bearish view about emerging economies, you cannot be too optimistic about the U.S. because for many U.S. corporations, 50 percent or more of their profits come from emerging economies.
I believe that everything is divinely inspired. Bad things happen - they do - but I also think that when these bad things happen, there's an equal and opposite force that is happening, and there is good.
I started in business journalism from the outside, so when I started writing about markets and business, I was struck by the fact that markets seemed to work well even though people are often irrational, lack good information and are not perfect in the way they think about decisions.
Even though I don't write about things that come from my life because I'm lucky, and I live in a great place with great kids and, you know, a great husband, I think you can find threads of me in the characters, so that's really what being a writer is, probably.
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