Somebody can become a celebrity for being stupid. That is what it's turned into
Having great clients is the key to investment success.
Selling, in particular, can be a challenge; many investors are tempted to become more optimistic when a security is performing well. This temptation must be resisted; tax considerations aside, when a security reaches full valuation, there is no longer a reason to own it.
Value in relation to price, not price alone, must determine your investment decisions. If you look to Mr Market as a creator of investment opportunities (where price departs from underlying value), you have the makings of a value investor. If you insist on looking to Mr Market for investment guidance however, you are probably best advised to hire someone else to manage your money.
The inability to hold cash and the pressure to be fully invested at all times meant that when the plug was pulled out of the tub, all boats dropped as the water rushed down the drain.
When excesses such as lax lending standards become widespread and persist for some time, people are lulled into a false sense of security, creating an even more dangerous situation. In some cases, excesses migrate beyond regional or national borders, raising the ante for investors and governments. These excesses will eventually end, triggering a crisis at least in proportion to the degree of the excesses. Correlations between asset classes may be surprisingly high when leverage rapidly unwinds.
Be sure that you are well compensated for illiquidity - especially illiquidity without control - because it can create particularly high opportunity costs.
Conspiracies do exist. Probably in this moment in New York there is an economic group making a conspiracy in order to buy three banks. But if they succeed, they are immediately discovered.
The fool of nature stood with stupid eyes And gaping mouth, that testified surprise.
I am one who leaves the table like a man, without putting back the chair or picking up the plate
In a personal way, to do with family and the father-son relationship, in a kind of artistic way with regard to him being an art student. I also studied the visual arts at Lancaster University. I then decided to become an actor as he was becoming a musician. And then as an actorperformer, we have similar sort of interests - music hall and that whole world. So, there's a lot that I felt connected with.