“In short, amateurs may be able to beat the investment professionals, but most do far worse. This keeps professional investors in business (and that keeps people like me employed, which is nice). But it means that returns to investors typically lag benchmark returns by a long margin. The outlook, in my view, is for low returns ahead, as measured by common benchmarks. If investors continue to receive materially worse returns than those benchmarks, effective returns are likely to be derisory.” —
Morgan Stanley’s Gerard Minack Retires - Business Insider
— via Josh Brown
“SUPPOSE that an investor you admire and trust comes to you with an investment idea. “This is a good one,” he says enthusiastically. “I’m in it, and I think you should be, too.” Would your reply possibly be this? “Well, it all depends on what my tax rate will be on the gain you’re saying we’re going to make. If the taxes are too high, I would rather leave the money in my savings account, earning a quarter of 1 percent.” Only in Grover Norquist’s imagination does such a response exist.” Source: New York Times” — Warren Buffett Investing Quotes | The Big Picture
“I believe the analogy between national finances and insolvency is damaging. If politicians and policy makers believe their country is, literally, insolvent, then they behave differently towards their creditors. For politicians of debtor states, suddenly vast privatizations make sense, because of course you’re selling some of your remaining assets. Suddenly the will of the people of the debtor nation becomes secondary to the will of the nation’s creditors. Suddenly democracy is an expensive irrelevance in the face of an overwhelming technocratic desire for a speedy, and market-friendly, solution.” — Remember: A Country Is Not a Company - Stephen Kinsella - Harvard Business Review
“April 16 is the 50th anniversary of the publication of a little book that is loved and admired throughout American academe. Celebrations, readings, and toasts are being held, and a commemorative edition has been released. I won’t be celebrating. The Elements of Style does not deserve the enormous esteem in which it is held by American college graduates. Its advice ranges from limp platitudes to inconsistent nonsense. Its enormous influence has not improved American students’ grasp of English grammar; it has significantly degraded it.” — 50 Years of Stupid Grammar Advice - The Chronicle Review - The Chronicle of Higher Education
Luxi ~ Incident light meter adapter for iPhone by James — Kickstarter
“Beyond cameos and torture, the ceremony engaged in a political fight involving women, and took the dumber side. Movies, and what women do in and to them, are better than the Academy seemed to realize. The same could be said about a lot of women in a lot of jobs. And women can’t forget it.” — Seth MacFarlane and the Oscars’ Hostile, Ugly, Sexist Night : The New Yorker
“What can I say?” James Behnke told me years later. “It didn’t work. These guys weren’t as receptive as we thought they would be.” Behnke chose his words deliberately. He wanted to be fair. “Sanger was trying to say, ‘Look, we’re not going to screw around with the company jewels here and change the formulations because a bunch of guys in white coats are worried about obesity.’ ” — The Extraordinary Science of Addictive Junk Food - NYTimes.com
“Write a blog post or a tweet about the imminent correction and everyone retweets you, everyone agrees. The “Correction Camp” is now the world’s largest circlejerk as measured by circumference, according to Guinness.” — The suspense is killing me. | The Reformed Broker
“Coal’s decline does bring some negative side effects. Coal is too often replaced not with renewable power but with natural gas, which has its own serious problems, including the water pollution associated with the drilling technique known as hydraulic fracturing, or fracking, and the fact that it’s a major greenhouse gas emitter in its own right. And, as domestic demand dwindles, coal companies are increasingly looking to export coal to markets in Asia, where demand is still high.” — Big Coal’s Big Problems | Politics News | Rolling Stone
fun prank; tell women they’re only good for romance, sex, and having children. and then laugh at them for wanting romance, shame them for having sex, and act like they have to give up all facets of their personalities if they become mothers
(Source: taeko-yasuhiros, via glamaphonic)