When the stock market crashed, Franklin D. Roosevelt got on the television and didn't just talk about the, you know, the princes of greed. He said, 'Look, here's what happened.'
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Interview with CBS Evening News. CBS Evening News, September 22, 2008Joseph Biden (Joe)
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One of the first things they teach stockbrokers is to stay out of the stock market. Brokers make their pile from selling advice, and from commissions on stock transactions. They can't predict the market, and few risk their own money. They, at least, only affect their clients' fortunes. Economists, though, can ruin the lot of us with their advice — yet if no science can predict a relatively closed system like the stock market, how the devil are you going to 'fine tune' something a large as the American economy? I'd think it arrogant to try; as arrogant as the man with three illiterate drug-addicted spoiled brats writing a book on parenting.
Jerry Pournelle
Treatment of the apparently whimsical fluctuations of the stock quotations as truly non stationary processes requires a model of such complexity that its practical value is likely to be limited. An additional complication, not encompassed by most stock market models, arises from the manifestation of the market as a nonzero sum game.
Richard Arnold Epstein
When the weather changes and hurricanes hit, nobody believes that the laws of physics have changed. Similarly, I don't believe that when the stock market goes into terrible gyrations its rules have changed. It's the same stock market with the same mechanisms and the same people.
Benoit Mandelbrot
The most important thing I have done is to combine something esoteric with a practical issue that affects many people. In this spirit, the stock market is one of the most attractive things imaginable. Stock-market data is abundant so I can check everything. Financial markets are very influential and I want to be part of this field now that it is maturing.
Benoit Mandelbrot
The Sun editorial on Roosevelt this morning begins: "Franklin D. Roosevelt was a great man." ...The argument, in brief, is that all his skullduggeries and imbecilities were wiped out when "he took an inert and profoundly isolationist people and brought them to support a necessary war on a scale never before imagined." In other words, his greatest fraud was his greatest glory, and his sufficient excuse for all his other frauds. It seems to me to be very likely that Roosevelt will take a high place in American popular history -- maybe even alongside Washington and Lincoln... He had every quality that morons esteem in their heros. It will be to the interest of all his heirs and assigns to whoop him up, and they will probably succeed in swamping his critics.
H. L. Mencken
Biden, Joseph (Joe)
Bieber, Justin
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