A Quote by John Elkann
I think there is empirical evidence that if you look at family controlled businesses, they actually outperform in terms of results and also valuations, the broader market.
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Smart businesses do not look at labor costs alone anymore. They do look at market access, transportation, telecommunications infrastructure and the education and skill level of the workforce, the development of capital and the regulatory market.
Shutterstock has evolved from an image-based marketplace for small businesses to a much broader platform, with a large and expanding addressable market opportunity.
I'm a quarter Chinese and three-quarter Filipino. I don't look Filipino; I look more Chinese or Korean. It actually works in my favor: in terms of roles, it gives me a broader canvas.
I think in terms of being a good presenter, it's not as simple as having been out in a war zone. Actually the news is far broader than that.
Favored stocks underperform the market, while out-of-favor companies outperform the market, but the reappraisal often happens slowly, even glacially.
You don't actually find a strong correlation between- top-line GDP growth and making money in the market. It- it seems like you should. The fastest-growing countries should give you the highest return. They simply don't. But, there's only four of us- that- that believe that story. Everyone else in the world believes that if you grow fast like China, you'll outperform in the stock market.
There is no other proposition in economics that has more solid empirical evidence supporting it than the Efficient Market Hypothesis... In the literature of finance, accounting, and the economics of uncertainty, the EMH is accepted as a fact of life.
I think there are some groups of stocks that are highly vulnerable because they're in cuckoo land in terms of valuations.
Paradoxically, those who call for family values also tout the wonders of an unregulated market without observing the subtle cultural links between the family they seek to regulate and the market they hold free.
Berkshire's whole record has been achieved without paying one ounce of attention to the efficient market theory in its hard form. And not one ounce of attention to the descendants of that idea, which came out of academic economics and went into corporate finance and morphed into such obscenities as the capital asset pricing model, which we also paid no attention to. I think you'd have to believe in the tooth fairy to believe that you could easily outperform the market by seven-percentage points per annum just by investing in high volatility stocks.
Across a wide body of academic and empirical evidence, there is no evidence of a significant impact of capital gains rates on the level of long-term investment in the economy.
In philosophical terms, the opposite of rationalism is not irrationalism but empiricism, that is, a willingness to form beliefs on the basis of experience rather than from a priori deduction. Empirical evidence never yields the dogmatic certainty that accompanies logical deduction.
When you think of power, you think the state has power. When you look at it in terms of revolution, in terms of the state, you think of it in terms of Russia, the Soviet Union, and how those who struggled for power actually became victims of the state, prisoners of the state, and how that led to the dissolution of the Soviet Union. We have to think of revolution much more in terms of transitions from one epoch to another. Talk about Paleolithic and Neolithic.
When you think of power, you think the state has power. When you look at it in terms of revolution, in terms of the state, you think of it in terms of Russia, the Soviet Union, and how those who struggled for power actually became victims of the state, prisoners of the state, and how that led to the dissolution of the Soviet Union. We have to think of revolution much more in terms of transitions from one epoch to another.
In New Zealand, sex workers are regarded as workers, as people who are members of the community, people who have a stake in the community - not just in the workplace, but in the broader community. They aren't objects to be controlled and regulated. They are not collateral evidence of a crime. They are human beings.
I have a wealth of experience, not only as a senior executive in different departments in the city, but I've also, in my private practice life, helped small businesses, middle-market businesses really try to navigate the sometimes difficult world of city government.
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