A Quote by William J. Bernstein

You have to understand what market history looks like. What market history tells you is that the very, very best investments are made when things look the worst. — © William J. Bernstein
You have to understand what market history looks like. What market history tells you is that the very, very best investments are made when things look the worst.
I like the PC market. It's a big market, but it's a very volatile market as well.
New York as an industry is the best city for real estate. You're in a very transparent market. If you need to liquidate, you make three phone calls and you could sell something, even in the worst market. It is also less forgiving; if you make a mistake you can lose money.
Every quarter, we need to see the portfolio and follow the accounting practice of mark-to-market that values investments according to the prevailing market prices and at the price at which they are made.
I think President Barack Obama is going to be treated very, very well by history in terms of his ability to save the economy. And that's certainly true in rural areas. The unemployment rate is substantially reduced, the poverty rate is down, and in large part because of the investments that were made during the Recovery Act and thereafter, historic investments.
The Middle East would always be an important trading partner in just a market sense, like America is a big market for us, Asia is a big market, Europe is a big market. You are going to have hundreds of millions of consumers there, from just a standard market point of view, from a very narrow American point of view.
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.
The function of traditional history is to create a citizenry that looks to the top - the president, Congress, the Supreme Court - to make the important decisions. That's what traditional history is all about: the laws that were passed, the decisions made by the court. So much of history is built around "the great men." All of that is very anti-democratic.
We have lots of evidence that putting investments in early childhood education, even evidence from very hard-nosed economists, is one of the very best investments that the society can possibly make. And yet we still don't have public support for things like preschools.
I think socialism is really about recognizing that there are limits to what the market can do. The market is very useful; at times it works very well, but it doesn't always work.
I believe in market economics. But to paraphrase Churchill - who said this about democracy and political regimes - a market economy might be the worst economic regime available, apart from the alternatives. I believe that people react to incentives, that incentives matter, and that prices reflect the way things should be allocated. But I also believe that market economies sometimes have market failures, and when these occur, there's a role for prudential - not excessive - regulation of the financial system.
Basically, the myth is that America has been founded on the free market; the government has done very little; it has thrived under free trade. But actually, if you look at the history, this is actually the country that has succeeded most with protectionist policies.
If you look at U.S. history through religious history, there is very much a motif that shows the importance religion has played in the U.S. We're a very religious country and it affects the way we look at various political issues.
It's no longer the older paradigm of, 'I want to own this market, and no one else can own this market because I own this market.' The Internet has made the market limitless.
On a very, very basic level, I'm definitely pro market because with the market comes the idea of the individual and the idea of specialisation, and I personally like being an individual and choosing my interactions. I don't see culture moving away from that, like back to a farming society. You couldn't do that with the amount of people we have.
I made my debut very early and a lot of things happened to me at a young age, but I was there for the best time in Barcelona's history and played with the best players in the world.
A market economy is a tool - a valuable and effective tool - for organizing productive activity. A market society is a way of life in which market values seep into every aspect of human endeavour. It's a place where social relations are made over in the image of the market.
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