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Nassim Nicholas Taleb

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There is a saying that bad traders divorce their spouse sooner than abandon their positions. Loyalty to ideas is not a good thing for traders, scientists - or anyone.

 
Nassim Nicholas Taleb

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I don't mean this to be political, but when Ron Paul was firing every revolver in Ben Bernanke's direction, there were a lot of people cheering down here, with regard to the only tools the Fed ever seems to use, are the easing tools. And on the inflation front, many traders were reading the subtitles and they went back and checked, with respect to the weaker dollar, it affects import prices but not domestic prices, that's kind of an inconsistency [...] I just think you don't understand the way traders think. Traders don't care about your analysis. They care about making money. And they obviously realize that the only thing the Fed has ever done to solve these problems is to ease, and they're making money. But if you ask these people, do you think you really gonna see a rate cut in December, half the people I talk to say by time we get into December, headline inflation would probably make it so the Fed can't ease.

 
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You can fire your secretary, divorce your spouse, abandon your children. But they remain your co-authors forever.

 
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When I consider the state of things in our fief, I find that those who hold positions and receive official stipends are incapable of the utmost in loyalty and patriotic service. Loyalty of the usual sort-perhaps, but if it is true loyalty and service you seek, then you must abandon this fief and plan a grass-roots uprising.

 
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What is the responsibility of the people who cover Wall Street? Who are you responsible to? The people with the 401Ks and the pensions and the general public or the Wall Street traders—and by the way, this casts aspersion on all of Wall Street when that's unfair, as well! The majority of those guys are good guys. They're working their asses off, they're really bright guys. I know a lot of 'em, they're just trying to do the right thing and they're gettin' f**ked in this thing, too!

 
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Few men, perhaps, have done more to jeopard the interests of American traders, or to bring the American character itself into contempt, than Armijo, the present arbitrary governor of New Mexico.

 
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