Thursday, July 15, 2010

Money managers talk on TV...

From comments section of How to lose money listening to Goldman

When Inside Big Money talks it has two objective: create exits for its positions and generate transactional fees, invariably at the expense of Outside Small Money.

Big Money talk is morally and intellectually akin to those lanterns and hill-top bonfires wreckers used to shine off the Carolina and English coasts in the 19th century to lure ships onto reefs and rocks and, after wrecking them, either offer to earn "salvage" fees or outright plunder the cargo and murder the crews. The ships, of course, thought that the lights and fires were beacons of safety pointing the way to a safe passage.

Pirates do not change: only their technologies and uniforms. Blackbeard never dies.

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