A Quote by Vaclav Klaus
We must have the time to create strict rules so that property is not sold by Communist managers for a low price. They often get payments under the table to sell to the first bidder. This does not build public support for a market economy.
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I buy stocks when they are battered. I am strict with my discipline. I always buy stocks with low price-earnings ratios, low price-to-book value ratios and higher-than-average yield. Academic studies have shown that a strategy of buying out-of-favor stocks with low P/E, price-to-book and price-to-cash flow ratios outperforms the market pretty consistently over long periods of time.
In the market economy the worker sells his services as other people sell their commodities. The employer is not the employee's lord. He is simply the buyer of services which he must purchase at their market price.
Whereas a competitive firm must sell at the market price, a monopoly owns its market, so it can set its own prices. Since it has no competition, it produces at the quantity and price combination that maximizes its profits.
It's time to admit that public education operates like a planned economy, a bureaucratic system in which everybody's role is spelled out in advance and there are few incentives for innovation and productivity. It's no surprise that our school system doesn't improve: It more resembles the communist economy than our own market economy.
Being a slave meant never having the stability of knowing your family would be together as many years as God designed it to be. It meant you could come back from picking cotton in a field to find that your children are gone, your husband's gone, your mother's gone. It meant knowing you are property that could be sold to the highest bidder, of value only to continue to support the plantation economy.
The most realistic distinction between the investor and the speculator is found in their attitude toward stock-market movements. The speculator's primary interest lies in anticipating and profiting from market fluctuations. The investor's primary interest lies in acquiring and holding suitable securities at suitable prices. Market movements are important to him in a practical sense, because they alternately create low price levels at which he would be wise to buy and high price levels at which he certainly should refrain from buying and probably would be wise to sell.
Heinlein's Rules for Writers Rule One: You Must Write Rule Two: Finish What Your Start Rule Three: You Must Refrain From Rewriting, Except to Editorial Order Rule Four: You Must Put Your Story on the Market Rule Five: You Must Keep it on the Market until it has Sold
Today's stock market actually hates technology, as shown by all-time low price/earnings ratios for major public technology companies.
Today's stock market actually hates technology, as shown by all-time low price/earnings ratios for major public technology companies
I think the market is always going to be around. The goal is not to say, let's get rid of the market, because the market does render a huge number of services, and I don't want to have a fight about the price of something every time I buy a book or a bottle of water.
Dreams require down payments. Dreams are free, but the journey isn't. There is a price to pay. First, you must pay the price of dealing with criticism from people who matter. Ralph Waldo Emerson said, 'Whatever course you decide upon, there is always someone to tell you that you are wrong.' Second, you must pay the price of overcoming your fears. Failure, rejection, and looking foolish are common fears - but they are just feelings that can be conquered and removed from your thoughts. Finally, you must be willing to pay the price of hard work in order to realize your dream.
I support freedom and I support a free market economy, but it should be a socially oriented market economy. I support globalization, but it should be globalization with a human face.
The mistake managers often make is defining their industry too narrowly. Digital's market share in the minicomputer market stayed very robust even as it fell off the cliff. Disruption seems to come out of nowhere, but if you know what to look for, you can spot important developments well before the market does.
It's a blessing and a curse when your first big public album does so well. 'Twentysomething' sold four million copies - I think we were hoping to sell 80,000. And it's still selling. In some ways, you'll always be defined by that.
A free culture supports and protects creators and innovators. It does this directly by granting intellectual property rights. But it does so indirectly by limiting the reach of those rights, to guarantee that follow-on creators and innovators remain as free as possible from the control of the past. A free culture is not a culture without property, just as a free market is not a market in which everything is free. The opposite of a free culture is a "permission culture" -- a culture in which creators get to create only with the permission of the powerful, or of creators from the past.
Our rulers will best promote the improvement of the nation by strictly confining themselves to their own legitimate duties, by leaving capital to find its most lucrative course, commodities their fair price, industry and intelligence their natural reward, idleness and folly their natural punishment, by maintaining peace, by defending property, by diminishing the price of law, and by observing strict economy in every department of the state. Let the Government do this: the People will assuredly do the rest.
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