It is vital for officials and regulators to have input from people within our businesses who understand the intricacies of how financial markets operate and the consequences of certain policy decisions.
Interpretation
Involving industry experts in policy decisions leads to better outcomes.
This quote emphasizes the importance of consulting professionals who have a deep understanding of financial markets when making policy decisions. It highlights that informed insights from practitioners can help regulators and officials navigate complex market dynamics and anticipate the potential impact of their policies.
In practice
In a financial conference discussing new regulations, this quote could underscore the need for expert voices.
The problem is not that the U.S. economy won't be able to take care of its citizens - it is that taking away benefits, creating intergenerational warfare, and scapegoating will make for very difficult and bad politics. This is a tragedy that we can see coming. Early action would be relatively painless.
Business has to have a seat at the table. Infrastructure isn't going to be built properly if business doesn't have a seat at the table. A school is not going to happen if businesses don't work with schools about what kind of jobs they really need.
If you're blindly loyal to me, then you're just acting like a crony of mine. If you say you admire me because of the principles for which I stand, I understand that, but then you also have the right to call me to the carpet when you think I'm falling short.
I'm a little bit of an eternal optimist. People always say to me, 'If you go do this and it fails, what are you going to do?' I don't care. I'm going to give it my best shot. That's what I'm going to do. If it doesn't work, it doesn't work. And I'll try again.
You don't run a business hoping you don't have a recession.
There's so much disagreement about investing, and it's because nobody really knows.
If you owe $50, you're a delinquent account. If you owe $50,000, you're a small businessmen. If you owe $50 million, you're a corporation. If you owe $50 billion, you're the government.
Just because a stock is down doesn't mean it's a great buy.
I believe, in the stock market - that's one of my fields - that most people are irrational. And to be irrational, you can be irrational in so many different ways that, practically, the result is indeterminate.
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.
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.
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