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Perhaps the most widespread misunderstanding of economics is that it applies solely to financial transactions. Frequently this leads to statements read more
Perhaps the most widespread misunderstanding of economics is that it applies solely to financial transactions. Frequently this leads to statements that "there are noneconomic values" to consider. There are, of course, noneconomic values. Indeed, there are only noneconomic values. Economics is not a value itself but merely a method of trading off one value against another.
What the customer demands is last year's model, cheaper. To find out what the customer needs you have to understand read more
What the customer demands is last year's model, cheaper. To find out what the customer needs you have to understand what the customer is doing as well as he understands it. Then you build what he needs and you educate him to the fact that he needs it.
Finance is the art of passing currency from hand to hand until it finally disappears.
Finance is the art of passing currency from hand to hand until it finally disappears.
It is time that financial types developed a greater tolerance for imprecision, because that’s the way the world is.
It is time that financial types developed a greater tolerance for imprecision, because that’s the way the world is.
A fool and his money are soon parted. - Five Hundred Points of Good Husbandry.
A fool and his money are soon parted. - Five Hundred Points of Good Husbandry.
Most people...find a disorientating mismatch between the long-term nature of their liabilities and the increasingly short-term nature of their assets.
Most people...find a disorientating mismatch between the long-term nature of their liabilities and the increasingly short-term nature of their assets.
We don't want to push our ideas on to customers, we simply want to make what they want.
We don't want to push our ideas on to customers, we simply want to make what they want.
Money is the most egalitarian force in society. It confers power on whoever holds it.
Money is the most egalitarian force in society. It confers power on whoever holds it.
It's not the bulls and bears you need to avoid -- it's the bum steers.
It's not the bulls and bears you need to avoid -- it's the bum steers.
