Market Efficiency Quotes

Did I think I was doing God's work?" he said later. "No. But I did think market efficiency was something important for the economy. ~ Michael Lewis

Corruption is government intrusion into market efficiencies in the form of regulations. ~ Milton Friedman

The argument for the free market is a complicated and sophisticated one and depends on demonstration of secondary effects. I have confidence market efficiency will win out. ~ Milton Friedman

Even in financial markets, the concept of market efficiency does not hold. ~ Paul Ormerod

During periods of extreme fear or greed, you don't have the proper balance between those two to generate market efficiency and you get extremes in behavior. ~ Andrew Lo

Second, they [those who disagree with market efficiency] always claim they know a man, a bank, or a fund that does do better. Alas, anecdotes are not science. And once Wharton School dissertations seek to quantify the performers, these have a tendency to evaporate into the air - or, at least, into statistically insignificant t-statistics. ~ Paul Samuelson

First, those who disagree with market efficiency simply assert that it stands to common sense that greater effort to get facts and greater acumen in analyzing those facts will pay off in better performance somehow measured. (By this logic, cure for cancer must have been found by 1955). ~ Paul Samuelson

If the market were way over priced, I wouldn't own any stocks. ~ Walter Schloss

We don't think much about the up and down of the public market. ~ Jim Goetz

All this time Lock and I had managed to be civil to one another. No drama, all efficiency. But look him in the eyes? No, I couldn't do that. That would cut me wide open, and there would be blood. Lots of blood. I'd crumble into a heap on the floor then beg him to collect the pieces. ~ Cat Porter

I'm not a fan of mysteries, so to prepare for this experience of writing a mystery I started reading the most successful ones in the market in 2012 ... And I realized I cannot write that kind of book. It's too gruesome, too violent, too dark; there's no redemption there. ~ Isabel Allende

There's no limit to what free men and free women in a free market with free enterprise can accomplish when people are free to follow their dream. ~ Jack Kemp

A lot of joblessness in the black community doesn't seem to be reachable through fiscal and monetary policies. People have not been drawn into the labor market even during periods of economic recovery. ~ William Julius Wilson

That was how a Salomon bond trader thought: He forgot whatever it was that he wanted to do for a minute and put his finger on the pulse of the market. If the market felt fidgety, if people were scared or desperate, he herded them like sheep into a corner, then made them pay for their uncertainty. He sat on the market until it puked gold coins. Then he worried about what he wanted to do. ~ Michael Lewis

How flimsy our existence is, how many conditions must exist and must continue to exist over the course of millions of years so that a single flower or a single pencil or a single book might exist ... For a moment I felt like a string being strummed by thousands of fingers, and I closed my eyes. Our existence on this planet hangs by a thread, every tomato and every onion is such an enormous miracle you could collapse with awe in a vegetable market. ~ Dror Burstein

Every major industry was once a growth industry. But some that are now riding a wave of growth enthusiasm are very much in the shadow of decline. Others that are thought of as seasoned growth industries have actually stopped growing. In every case, the reason growth is threatened, slowed, or stopped is not because the market is saturated. It is because there has been a failure of management. ~ Theodore Levitt

Debt deflation is when there's less money that people have to spend out of their paychecks on goods and services, because they're paying the FIRE sector. Oil going down is a function of the supply and demand of oil in the market. It's a separate phenomenon. ~ Michael Hudson

I suppose she chose me because she knew my name; as I read the alphabet a faint line appeared between her eyebrows, and after making me read most of My First Reader and the stock-market quotations from The Mobile Register aloud, she discovered that I was literate and looked at me with more than faint distaste. Miss Caroline told me to tell my father not to teach me any more, it would interfere with my reading. ~ Harper Lee

What a pleasure it is to be in business with BASE. I'm impressed with the honesty, integrity and efficiency with which they operate. The next show I do and represent, I will be doing with them all over again. ~ Bernie Brillstein

Pre-Internet, maybe it took six months for a fashion message to get across to a customer base. Fashion messages are now being sent out overnight, simultaneously, to every market in the world. ~ Natalie Massenet

It's really interesting that we've had this great Tea Party movement that is all about restoring free market capitalist values, but what they completely fail to understand is that what we've got now is a situation where there is a small class of gigantic financial companies that have put themselves above capitalism. ~ Matt Taibbi

[When] the market is trying to get to terms with, first, lower global growth, particularly out of emerging markets and China. And, second, the market is worried the central banks have run out of ammunition. So put these two things together, and then investors are repricing the market lower. ~ Mohamed El-Erian

There is nothing the state can do, and which society needs done, that cannot be done far better by the market. ~ Llewellyn Rockwell

Health care is a service that we all need, but just like food and shelter, it is best provided through voluntary and mutually beneficial market exchanges. ~ John Mackey

An Attempt at Jealousy"

How is your life with an ordinary
woman? without the god inside her?
The queen supplanted -

How do you breathe now?
Flinch, waking up?
What do you do, poor man?

How's your life with a tourist
on Earth? Her rib (do you love her?)
is it to your liking?

How do you live with cheap goods: is the market rising?
How's kissing plaster-dust?

Are you bored with her new body?
How's it going, with an earthly woman,
with no sixth sense?

Are you happy?
No? In a shallow pit - how is your life,
my beloved? Hard as mine
with another man? ~ Marina Tsvetaeva

Computing shows up in many different ways. You have computing that you wear, computing that you carry. What you think of as the traditional PC market has a long tail of usage, particularly in the commercial world, but also in consumer. ~ Michael Dell

The motorization of law into mere decree was not yet the culmination of simplifications and accelerations. New accelerations were produced by market regulations and state control of the economy - with their numerous and transferable authorizations and subauthorizations to various offices, associations and commissions concerned with economic decisions. Thus in Germany, the concept of "directive" appeared next to the concept of "decree." This was "the elastic form of legislation," surpassing the decree in terms of speed and simplicity. Whereas the decree was called a "motorized law," the directive became a "motorized decree." Here independent, purely positivist jurisprudence lost its freedom of maneuver. Law became a means of planning, an administrative act, a directive. ~ Carl Schmitt

I think there's a preoccupation with the American market to make excuses and justify its past. If it isn't current, it means somebody has to make an excuse for it. If it's 'cult,' it gives it a sense of illegitimate legitimacy. ~ Leon Redbone

One, which I mention several times elsewhere, is the need for patience if big profits are to be made from investment. Put another way, it is often easier to tell what will happen to the price of a stock than how much time will elapse before it happens. The other is the inherently deceptive nature of the stock market. Doing what everybody else is doing at the moment, and therefore what you have an almost irresistible urge to do, is often the wrong thing to do at all. ~ Philip Arthur Fisher

For the last hundred years the big organizational question has been whether any given task was best taken on by the state, directing the effort in a planned way, or by businesses competing in a market. ~ Clay Shirky

I was born in Brazil and grew up in the '70s under a climate of political distress, and I was forced to learn to communicate in a very specific way - in a sort of a semiotic black market. You couldn't really say what you wanted to say; you had to invent ways of doing it. You didn't trust information very much. ~ Vik Muniz

The Great Depression was not a sign of the failure of monetary policy or a result of the failure of the market system as was widely interpreted. It was instead a consequence of a very serious government failure, in particular a failure in the monetary authorities to do what they'd initially been set up to do. ~ Milton Friedman

People have tried to corner the market on being offended, corner the market on language and corner the market on opinion. Should I lose my job 'cause I offended somebody? No, of course not. Your life should never be affected by public opinion. ~ Patrice O'Neal

Paradoxically, to be truly idle, you also have to be efficient. ~ Tom Hodgkinson

Practically and commercially speaking, a dollar is not necessarily a specific thing, made of silver, or gold, or any other single metal, or substance. It is only such a quantum of market value as exists in a given piece of silver or gold. ~ Lysander Spooner

I know of no example in time or place of a society that has been marked by a large measure of political freedom, and that has not also used something comparable to a free market to organize the bulk of economic activity. ~ Milton Friedman

At the same time, however, the necessity for economic change in our countries has led us to conceive laws and accept traditions often at the expense of the individual person. Just when many are becoming conscious of the fundamental heritage of the Judeo-Christian tradition to respect each human person, friend or foe, within the actual structure of our society to apply this truth. The very efficiency demanded by our technocratic industrial society renders the life of the old, the unstable and the handicapped almost impossible. as the values of efficiency, individualism, and wealth become the only motivations, they tend to stifle the profound aspirations of man so that little by little he loses all sense of fellowship and community. ~ Jean Vanier

Soviet-style communism failed, not because it was intrinsically evil, but because it was flawed. It allowed too few people to usurp too much power. Twenty-first century market capitalism, American-style, will fail for the same reasons. Both are edifices constructed by human intelligence, undone by human nature. ~ Arundhati Roy

If I weren't in Radiohead I'd be working at a grocery store, I'd be that creepy guy who lives in an efficiency apartment and collects salted, cured meats. ~ Thom Yorke

In the exercise of God's efficiency, the decree of God comes first. This manner of working is the most perfect of all and notably agrees with the divine nature. ~ William Ames

My favorite leather jacket I got for 40 bucks at the Fairfax Flea Market, like, eight years ago. Leather just gets better over time. There's something about a jacket that you have over years and years - just fits like a glove. ~ Jack Falahee

In a bear market, you have to use sharp countertrend rallies to sell. ~ Bruce Kovner

Globalization, which attempts to amalgamate every local, regional, and national economy into a single world system, requires homogenizing locally adapted forms of agriculture, replacing them with an industrial system-centrally managed, pesticide-intensive, one-crop production for export-designed to deliver a narrow range of transportable foods to the world market. ~ Helena Norberg-Hodge

There is a divergence between private and social accounting that the market fails to register. One essential task of law and government is to institute the necessary conditions. ~ John Rawls

Normally, if you have a huge category that leads a bear market all the way down to the bottom - like tech after 2000, or energy in the '80-'82 bear market - you get one quick pop, and then years of lag as we fight the old war. ~ Kenneth Fisher

SHAKESPEARE

What is a man,
If his chief good and market of his time
Be but to sleep and feed? A beast, no more

(Hamlet)

There is no one kind of Shakespearean hero, although in many ways Hamlet is the epitome of the Renaissance tragic hero, who reaches his perfection only to die. In Shakespeare's early plays, his heroes are mainly historical figures, kings of England, as he traces some of the historical background to the nation's glory. But character and motive are more vital to his work than praise for the dynasty, and Shakespeare's range expands considerably during the 1590s, as he and his company became the stars of London theatre. Although he never went to university, as Marlowe and Kyd had done, Shakespeare had a wider range of reference and allusion, theme and content than any of his contemporaries. His plays, written for performance rather than publication, were not only highly successful as entertainment, they were also at the cutting edge of the debate on a great many of the moral and philosophical issues of the time.

Shakespeare's earliest concern was with kingship and history, with how 'this sceptr'd isle' came to its present glory. As his career progressed, the horizons of the world widened, and his explorations encompassed the geography of the human soul, just as the voyages of such travellers as Richard Hakluyt, Sir Walter Raleigh, and Sir Francis Drake expanded the horizons of the real world. ~ Ronald Carter

If we care about universal principles such as freedom, democracy and the rule of law, we cannot leave them to the care of market forces; we must establish some other institutions to safeguard them. ~ George Soros

These days, however, the main problem comes from the right - from conservatives who, unlike most economists, really do think that the free market is always right-to such an extent that they refuse to believe even the most overwhelming scientific evidence if it seems to suggest a justification for government action. ~ Paul Krugman

And back in the spring of 1720, Sir Isaac Newton owned shares in the South Sea Company, the hottest stock in England. Sensing that the market was getting out of hand, the great physicist muttered that he "could calculate the motions of the heavenly bodies, but not the madness of the people." Newton dumped his South Sea shares, pocketing a 100% profit totaling £7,000. But just months later, swept up in the wild enthusiasm of the market, Newton jumped back in at a much higher price - and lost £20,000 (or more than $3 million in today's money). For the rest of his life, he forbade anyone to speak the words "South Sea" in his presence. 4 ~ Benjamin Graham

I'm a free-market economist from years and years back, and I've never veered from that. ~ Alan Greenspan

Unlike his sometime rival Tariq Ramadan, who'd been tainted by his old Trotskyite connections, Ben Abbes had kept his distance from the anticapitalist left. He understood that the pro-growth right had won the "war of ideas," that young people today had become entrepreneurs, and that no one saw any alternative to the free market. But his real stroke of genius was to grasp that elections would no longer be about the economy but about values, and that here, too, the right was about to win the "war of ideas" without a fight. ~ Michel Houellebecq

The stock market is people. ~ Bernard Baruch