A Quote by Carol Loomis
When they are employed wisely, derivatives make the world simpler because they give their buyers an ability to manage and transfer risk.
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Unfortunately, tools that transfer risk can also increase systemic risk if major counterparties fail to manage their own risk exposures properly.
What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn't be taking it to those who are willing to and are capable of doing so.
In an ideal world, one populated by vegetarians and Esperanto speakers, derivatives would be used for one thing only: reducing levels of risk. The list of individual traders who have lost more than a billion dollars at a time betting on derivatives is not short.
A lot of these things have hurt the average American. When they look at the banks and they say, "Well, the bank's talking its own game," I am telling you, what we've done in mortgage lending, our inability to have proper regulations around mortgages, has hurt average Americans. First-time buyers, immigrant buyers, prior defaults, self-employed, because they can't get a mortgage. Will it make a big difference to JPMorgan Chase? No, but you're hurting my fellow citizens. Let's go at it, and let's fix it.
People far too often associate derivatives markets with mere speculation, but there are very legitimate businesses that need derivatives to protect themselves against risk.
Countries that are occasionally immature in their ability to manage their economic affairs as well as they should - and that includes most of them - are going to find that the world is at risk.
The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions... Derivatives have permitted the unbundling of financial risks.
At Berkshire, I both initiate and monitor every derivatives contract on our books ... If Berkshire ever gets in trouble, it will be my fault. It will not be because of the misjudgments made by a risk committee or chief risk officer.
CEOs are no different than the guy in the mailroom. They all have to learn how to manage better the risk created by our increasingly risk-shifting world.
Most of what we know about sales comes from a world of information asymmetry, where for a very long time sellers had more information than buyers. That meant sellers could hoodwink buyers, especially if buyers did not have a lot of choices or a way to talk back.
When you are insecure, it turns people off. To spend money, people have to give away a part of their security. When they make the transfer of money to you, they have to feel solid; they have to feel they are getting something that will make them more, because they are paying out and becoming less right now. If you are solid and contained and secure, it helps them feel solid, so they transfer their cash more readily.
The church seeks to help form people who can risk being peaceful in a violent world, risk being kind in a competitive world, risk being faithful in an age of cynicism, risk being gentle among those who admire the tough, risk love when it may not be returned, because we have the confidence that in Christ we have been reborn into a new reality.
The ones who make it, are the ones who manage risk.
At SAP, we see a dream for a simpler world, for a simpler SAP, and for a simpler customer experience.
We are only asking you to give to Christ that which you give to others, to transfer the old emotions, the blessed emotions, the exercise of which makes gladness in the life here below, to transfer them to Him, and to rest safe in the Lord. Faith is trust.
You can't be in a certain business and not sell to Amazon or not sell to Wal-Mart. You have to reckon with them, because even though there are other buyers, they're the only buyers that matter.
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