A Quote by Warren Buffett
It isn't given to man to be able to run a financial institution where different interest-rate scenarios will prevail on all of that so as to produce kind of smooth, regular earnings from a very large base to start with.
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A young financial writer once brought ridicule upon himself by stating that a certain company had nothing to commend it except excellent earnings. Well, there are companies whose earnings are excellent but whose stocks I would never recommend. In selecting investments, I attach prime importance to the men behind them. I'd rather buy brains and character than earnings. Earnings can be good one year and poor the next. But if you put your money into securities run by men combining conspicuous brains and unimpeachable character, the likelihood is that the financial results will prove satisfactory.
What central banks can control is a base and one way they can control the base is via manipulating a particular interest rate, such as a Federal Funds rate, the overnight rate at which banks lend to one another. But they use that control to control what happens to the quantity of money. There is no disagreement.
Our tree is actually a tree of the short-term interest rate. The average direction in which the short-term interest rate moves depends on the level of the rate. When the rate is very high, that direction is downward; when the rate is very low, it is upward.
The single greatest line I ever wrote as an analyst was after Lomas said they were hedged: 'The Lomas Financial Corporation is a perfectly hedged financial institution: it loses money in every conceivable interest rate environment.' I enjoyed writing that sentence more than any sentence I ever wrote.
What we have to be careful is that if we drop interest rates where the rate of interest is lower than inflation, then savers will not put money in financial savings and move it to gold and real estate, which is bad for India.
Frank Lowy is an institution in Australian sport but judging by this decision he might be visiting a different kind of institution. He has brought the game into disrepute. The sport should not be run by dictators like him.
When they so-called 'target the interest rate', what they're doing is controlling the money supply via the interest rate. The interest rate is only an intermediary instrument.
In a large pharmaceutical company, where it's a big bet, you're going to need finance people to be involved in the decision-making because the investment can run into the hundreds of millions of dollars. You're going to have to run scenarios. You might even need agreement from the C.E.O. to make that type of decision. If it's an incremental, low-cost decision in a marketing-oriented company, it may be a very different set of stakeholders a lot further down in the organization.
The church is the only institution supernaturally endowed by God. It is the one institution of which Jesus promised that the gates of hell will not prevail against it.
The insurance companies do not refer to the key policy rate when they send their statements. We can only control that rate. Long-term interest rates are determined largely by global financial markets.
A financial institution has the task of taking risks, and if it's a well run institution - say, Goldman Sachs - it tries to cover the potential losses to itself, but only to itself.
Men tend to leave their financial adviser at a single-digit-percent rate in any given year. And women leave their husband and their joint financial adviser in the year after their spouse's death at a rate of greater than 70 percent - seven-zero.
I've always been introverted and so from a very young age I would play different scenarios in my head and let my imagination run free.
Given enough eyeballs, all bugs are shallow (e.g., given a large enough beta-tester and co-developer base, almost every problem will be characterized quickly and the fix obvious to someone).
Knowledge and productivity are like compound interest. The more you know, the more you learn; the more you learn, the more you can do; the more you can do, the more the opportunity. I don`t want to give you a rate, but it is a very high rate. Given two people with exactly the same ability, the one person who manages day in and day out to get in one more hour of thinking will be tremendously more productive over a lifetime.
And once we have given our community a good start,' I pointed out, ' the process will be cumulative. By maintaining a sound system of education you produce citizens of good character, and citizens of sound character, with the advantage of a good education, produce in turn children better than themselves and better able to produce still better children in their turn, as can be seen with animals.
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