It’s Friday, so time for another edition of The Quotron, featuring my fave quotations of the week. A quick aside, I’ve had that song ‘Wichita Lineman’ in my head for like two days now. How random is that? OK, here we go…
Both corporations and investors have been screwed blind by the transition of the market from a place to raise capital and discover price into one that focuses instead on the skimming of fractions of a cent from the other players – the essential function of the “House” in a gambling casino.
– Karl Denninger, Market-Ticker
Just because you can’t predict when something will happen doesn’t mean you should act as though it won’t happen.
– Dylan Grice, Soc Gen
We haven’t looked at the usual idiotic blatherings from the National Association of Realtors in quite some time. For sh*ts and giggles, let’s have a gander at their latest, to see if they are still maintaining their traditional high standards of alcohol consumption.
– Barry Ritholtz, The Big Picture
“The bulls’ answer to the global bears is that hard working, materialistic China will quickly grow into its excesses in housing and infrastructure. And that the government will have to make the necessary policy adjustments. Buildings empty today will not be tomorrow.”
– Peter Treadway, The Dismal Optimist
“I believe I have a much better chance of assessing the mood of (market) participants, and how they might react under different outcomes, than I do of assembling an infinite number of macro issues into a profitable plan.”
– Derek Hernquist
Big investors are a little bit like bloggers, actually, but instead of linking to articles and then saying what they think, they give out soft-dollar commissions and put on their own trades. Which, like blog entries, can either agree or disagree with the original idea.
– Felix Salmon, Reuters
“So the French are knocked out and now Germany takes on England. Haven’t I seen this movie before?”
– Eddie Elfenbein (watching the World Cup)
“The f***ing lads love (General) Stan McChrystal. You’d be out in Somewhere, Iraq, and someone would take a knee beside you, and a corporal would be like ‘Who the f*** is that?’ And it’s f***ing Stan McChrystal.”
– British Officer serving in Afghanistan, Rolling Stone