The story of Alexander Hamilton lends itself to hip-hop treatment. Hamilton's personality is driven and unrelenting, and the music has that same quality. The music and the man mirror each other.
Ron ChernowRead
Any bull market covers a multitude of sins, so there may be all sorts of problems with the current system that we won't see until the bear market comes.
Interpretation
Bull markets can mask underlying economic issues that become visible during downturns.
This quote highlights the tendency of a thriving market (bull market) to obscure various financial and systemic problems. Investors and analysts often overlook or underestimate issues present in a booming economy, but these weaknesses can become apparent during a downturn (bear market), exposing vulnerabilities that were previously hidden by the optimism and success of rising markets.
In practice
This quote can be used in a financial seminar discussing market cycles.
The story of Alexander Hamilton lends itself to hip-hop treatment. Hamilton's personality is driven and unrelenting, and the music has that same quality. The music and the man mirror each other.
Reconstruction is the great black hole that remains to be filled. Even experts on the Civil War don't really understand its full significance.
Strange as it may seem, George Washington's life has now been so minutely documented that we know far more about him than did his own friends, family, and contemporaries.
When you're a biographer, you want to explore the very things that your subject didn't care to talk about.
When the market is just going up, up, and up, we all tend to be blind to the holes in the market. They're all papered over by the rise.
I find that when I come upon something that I think is a historical revelation, I have the sort of adrenaline rush that I imagine a gambler gets in Las Vegas when he hits the jackpot. It's still tremendously exciting to me, and I think all of my peers in the business feel the same way.
Donβt buy luxuries until youβve built the assets to afford them
Well, I think the biggest mistake is not learning the habits of saving properly early. Because saving is a habit. And then, trying to get rich quick. It's pretty easy to get well-to-do slowly. But it's not easy to get rich quick.
Banking is a very treacherous business because you don't realize it is risky until it is too late. It is like calm waters that deliver huge storms.
I'll always understand the Schadenfreude aspect to short-selling. I get that no one will always like it. I'm also convinced to the deepest part of my bones that short-selling plays the role of real-time financial watchdog. It's one of the few checks and balances in the market.
There are two main drivers of asset class returns - inflation and growth.
Debt is so ingrained into our culture that most Americans can't even envision a car without a payment ... a house without a mortgage ... a student without a loan ... and credit without a card. We've been sold debt with such repetition and with such fervor that most folks can't conceive of what it would be like to have NO payments.
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