A Quote by Michael Burry
It is ludicrous to believe that asset bubbles can only be recognized in hindsight.
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When interest rates are low we have conditions for asset bubbles to develop, and they are developing at the moment. The ultimate asset bubble is gold.
What we need to understand is, one, that there are market failures; and two, that there are things like asset bubbles and irrational exuberance. There are periods of booms, bubbles, and manias. These things, if left to themselves, can lead to crashes, to busts, to panics.
The goal of long-run economic growth without asset price bubbles is not only achievable, but is something we should expect if we put a sound regulatory framework in place and if policymakers remain vigilant.
A bank-issued digital asset can only really efficiently settle between the banks who issued it. I strongly believe banks need an independent digital asset to enable truly efficient settlement, and we believe XRP is best positioned for that role.
It's important for the Fed, hard as it is, to attempt to detect asset bubbles while they're forming.
When I do the dodecahedron with the science audiences, I'll point out that I can only do three of the five forms with bubbles, since bubbles only join at three-way corners. The two I can't do are the ones that represent water and air. That always gets a big laugh from the mathematicians. They see the irony in it.
I believe the only things that really matter in investing are the bubbles and the busts
I could blow bubbles. Bubbles would solve any dilemma we face. If bubbles were president there would be no war.
Reality looks much more obvious in hindsight than in foresight. People who experience hindsight bias misapply current hindsight to past foresight. They perceive events that occurred to have been more predictable before the fact than was actually the case.
Asset bubbles have happened even without not-so-easy money. And, in a depressed economy, where alternative uses of money are not great, people are going to bid up the prices of profitable corporations and stuff like that.
Comedy springs from the ludicrous; but the ludicrous is stuck in the muck of reality, resolutely hostile to what is impossible.
You cannot have an asset that goes up in price 1% every month or 1% every six months or every day without people starting to start thinking it'll do the same tomorrow, so that's why these bubbles form.
Hindsight is not necessarily the best guide to understanding what really happened. The past is often as distorted by hindsight as it is clarified by it.
Bubbles are round for the same reason that planets are spherical. The universe itself is like bubbles.
Rise above the dualities, the opposites. See this whole world as the bubbles on the surface of water. See people as bubbles on the surface of the Brahman, of the Infinity...Water bubbles up, rises up. Like that, everybody is rising and having their own games and plays and dissolving back into the Infinite.
Never work for a company that says people are its most important asset. If you wanted to get a mortgage and you said that your only asset was people you would end up living in a tent.
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