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.
Assets put money in your pocket, whether you work or not, and liabilities take money from your pocket.
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.
Market timing doesn't work. If all the bubbles and all this mispricing really exist, how come so few people see it before it turns out that way?
Nobody can predict interest rates, the future direction of the economy or the stock market. Dismiss all such forecasts and concentrate on what's actually happening to the companies in which you've invested
Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves.
Well, I think the biggest mistake is not learning the habits of saving properly early. Because saving is a habit. And then, trying to get rich quick. It's pretty easy to get well-to-do slowly. But it's not easy to get rich quick.
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