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.
You win the modern financial-regulation game by filing the most motions, attending the most hearings, giving the most money to the most politicians and, above all, by keeping at it, day after day, year after fiscal year, until stealing is legal again.
You've got to tell your money what to do or it will leave.
The very nature of finance is that it cannot be profitable unless it is significantly leveraged... and as long as there is debt, there can be failure and contagion.
Most women file for bankruptcy in the aftermath of a serious medical problem, a job loss, or a family break up. It is hard to protect against those.
While some might mistakenly consider value investing a mechanical tool for identifying bargains, it is actually a comprehensive investment philosophy that emphasizes the need to perform in-depth fundamental analysis, pursue long-term investment results, limit risk, and resist crowd psychology.
The math you need for most of finance is ninth-grade algebra, and most people feel reasonably comfortable with that. But I think the financial world there has been - I don't know if it's by design, or this is how it's evolved - there are bad actors who have wanted to obfuscate because you can benefit from the lack of transparency.
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