Money and Finance
The first central banker...
Via Charles Gave at the 2013 Strategic Investment Conference:
“I think that we should all agree that the first central banker in history was probably Christopher Columbus. Because when he left he didn’t know where he was going; when he arrived he didn’t know where he was; and he did that with somebody else’s money.”
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Charlie Munger On Projections
From his speech “Academic Economics: Strengths and Faults After Considering Interdisciplinary Needs” (available HERE, HERE, or in Poor Charlie's Almanack): Usually, I don’t use formal projections. I don’t let people do them for me because...
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The Banker Who Put His Faith In Armstrong – By Andrew Ross Sorkin
When Lance Armstrong’s interview with Oprah Winfrey about his suspected use of illegal performance-enhancing drugs is broadcast on Thursday, an investment banker will most likely be watching it very carefully (and nervously): Thomas Weisel. Mr. Weisel...
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Richard Duncan Quotes
Longer excerpt from The New Depression (taken from my Kindle highlights, so the excerpts aren’t necessarily the paragraphs I have put them in below, and there may be things in between that I didn’t highlight). “As central banks accumulate foreign...
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Ultra Easy Monetary Policy And The Law Of Unintended Consequences – By William R. White
AbstractIn this paper, an attempt is made to evaluate the desirability of ultra easy monetary policy by weighing up the balance of the desirable short run effects and the undesirable longer run effects – the unintended consequences. The conclusion is...
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The World Columbus Created
Thanks to Andrew for reminding me about the book 1493, which I believe was a Charlie Munger recommendation at the Berkshire annual meeting this year. Millions of years ago, geological forces ripped the world to pieces. Christopher Columbus changed all...
Money and Finance