A Quote by John Manley
I think people are complacent. But complacency is like any other metric. It's easy to measure where it is, but it's hard to tell how persistent it is. What causes really big bear markets is not just when people are overly complacent - it's when that complacency is sticky. As long as the skepticism can refresh itself, I think that the markets are still quite viable.
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Bull markets are great, but they breed complacency. Bear markets can be energizing. Instead of fretting over the decline in your net worth, think opportunistically about all those bargains - and the potential gains when, inevitably, a bull market returns.
I think sometimes with experience, it brings a sense of laziness and complacency. I try not to get complacent.
I think the sign of complacency in the stock market is when people don't worry. At the moment, everyone worries about everything. They worry about geopolitical risk, about political risk, they worry that the markets are too high. The time to really worry is when everyone thinks that markets are going up and everything is going really well.
I think if we don't understand history, if we don't keep referring back to it, we become complacent. And complacency, as we all know, it leads to repeating history.
I think uncertainty is good for things. Certainty breeds complacency and complacency means that you just sit somewhere in your nice little comfortable suburban house in Michigan, looking at CNN and saying, "Oh, those poor immigrant children that are all coming across the border. But we really can't have them here - that isn't what God wants. Let's send them all back to the drug cartels." There's a complacency to it.
Many great persons have been of opinion that love is no other thing than complacency itself, in which they have had much appearance of reason. For not only does the movement of love take its origin from the complacency which the heart feels at the first approach of good, and find its end in a second complacency which returns to the heart by union with the thing beloved--but further, it depends for its preservation on this complacency, and can only subsist through it as through its mother and nurse; so that as soon as the complacency ceases, love ceases.
There is little room for complacency, and it is important to guard against sporadic volatility in financial markets.
A lot of people in the USA probably don't understand how important they are to the mortgage markets. And it's really important for people to have confidence in the mortgage markets and that there be stability in the mortgage markets.
These people say free markets are the way to go, but wink, wink, the markets aren't really free. They're just a protectionist racket, and we have to pay for it all on every level. It's really quite extraordinary, and immoral, and illegal. These things need to be named, and shamed, and outed, and mocked, and prosecuted.
Complacency is the enemy of study. We cannot really learn anything until we rid ourselves of complacency.
It's not about big markets or small markets. It's not about dominant teams or not. It's about the actual competition and how good the games are, how good the series turn out. That's what I think is the most important for fans.
I did get introduced to the financial markets while I was in college. And I think I learned also how to sort of filter out all of the nonrational, or nonsensible, noise and sort of concentrate on what matters, and that's really what markets are about.
Nothing comes easy. I know that people joke all the time and try to figure out, you know, what it is that I do, but I work really hard. I get up every day at 5 a.m. and start my day. I think as long as you work really hard and figure out what you want to do and stay motivated and have a plan and stay committed - just don't be lazy. That's my best advice. It's the most simple advice, but it really worked for me. I think that for some reason, I see people that think things will come easy and it doesn't really come easy.
I think comics is a really good way to talk about skepticism and atheism and things like that... it was easy to tell those stories and, I think, helpful to some people to tell them in comic form. Using visuals makes it easier to break stuff down and makes it somewhat easier to understand.
Markets are a social construction, they're made from institutions. We in a democratic society create markets, we constitute markets, we bring them into existence, and we shouldn't turn markets over to a narrow group of people who regulate them and run them in their interests, rather they should be run democratically for the common good.
I don't think it's possible for the Fed to end its easy-money policies in a trouble-free manner. Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets, so there is no reason to suspect that the actual process of boosting rates would be any different. I think that real pressure is going to occur not by the initiation by the Federal Reserve, but by the markets themselves.
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