Quotes Entirely Relevant to Investing 01-04-2009

by Mr Juggles

Anyone who expects markets to restore a disturbed equilibrium instantaneously will be disappointed. People cannot discover the relevant changes, confirm and assess them, consider alternative arrangements of their affairs, and carry out those changes in an instant. The competent economist appreciates the necessity of patience in evaluating the market’s operation. Simply because the market does not appear to have reconfigured itself fully soon after a shock, we have no warrant to conclude that “the market doesn’t work anymore” or that “the market doesn’t work the way it used to.”
-Robert Higgs (ht: Econlog)

Past Quotes Entirely Relevant to Investing

Ad Sense Ad Sense


  1. January 5th, 2009 | 2:50 pm

    This fits into the “No shit, sherlock” category in the (non-existent) Anal_yst Investing Guide, yet what, 99.999% of investors/pundits/sheople completely miss the point.

    Wonder what the silly EMH crowd has to say about this…

  2. January 5th, 2009 | 4:20 pm

    I should add, perhaps His Royal Highness Obama should take this quote to heart; acting with such expediency as he advocates is a recipe for failure

  3. Pleb
    January 7th, 2009 | 2:42 pm

    It ain’t economics, unless you can show me where Keynes said “Let no crisis go to waste.” I’m long cynicism in 2009, short good faith. And avoiding the hope & change exchange entirely. Almighty God cornered the market on Hope practically milleniums ago, He’s to Hope what the Hunt Brothers were to silver, while the assets in the Change Exchange are comprised of double A tranches of bad platitudes that can be emoted pretty easily, but which do not sell well on their own. See e.g. “change is good,” and “the only thing that is certain is change.” See also “buddy, can you spare a dime?” If you’re selling Change, these tranches sell pretty good as long as the buyer doesn’t ask any tough questions about what’s in any particular tranch. If you’re buying Change I can only caution you that it’s heavily overvalued right now, and you might want to consider the Greater Fool Theory before you buy.

  4. Size
    January 9th, 2009 | 12:53 pm

    Weeehehehellll…..the dumb plebs may not have figured out what to do with themselves yet, but everyone in government knows EXACTLY what to do. The Obamessiah promised us just yesterday that we dumbasses can’t pull ourselves out of this little downturn without his messianic interference.

  5. Size
    January 9th, 2009 | 12:54 pm

    Pleb, that’s the best damn analysis I’ve read in a week. Your research is worth every soft dollar!