G C Lichtenberg: “It is as if our languages were confounded: when we want a thought, they bring us a word; when we ask for a word, they give us a dash; and when we expect a dash, there comes a piece of bawdy.”
Albert Einstein: “I am content in my later years. I have kept my good humor and take neither myself nor the next person seriously.” (To P. Moos, March 30, 1950. Einstein Archives 60-587)
Martin Amis: “Gogol is funny, Tolstoy in his merciless clarity is funny, and Dostoyevsky, funnily enough, is very funny indeed; moreover, the final generation of Russian literature, before it was destroyed by Lenin and Stalin, remained emphatically comic — Bunin, Bely, Bulgakov, Zamyatin. The novel is comic because life is comic (until the inevitable tragedy of the fifth act);...”
Werner Herzog: “We are surrounded by worn-out, banal, useless and exhausted images, limping and dragging themselves behind the rest of our cultural evolution.”
John Gray: "Unlike Schopenhauer, who lamented the human lot, Leopardi believed that the best response to life is laughter. What fascinated Schopenhauer, along with many later writers, was Leopardi’s insistence that illusion is necessary to human happiness."
Justin E.H. Smith: “One should of course take seriously serious efforts to improve society. But when these efforts fail, in whole or in part, it is only humor that offers redemption. So far, human expectations have always been strained, and have always come, give or take a bit, to nothing. In this respect reality itself has the form of a joke, and humor the force of truth.”
विलास सारंग: "… इ. स. 1000 नंतर ज्या प्रकारची संस्कृती रुढ झाली , त्यामध्ये साधारणत्व व विश्वात्मकता हे गुण प्राय: लुप्त झाले...आपली संस्कृती अकाली विश्वात्मक साधारणतेला मुकली आहे."
Wednesday, August 15, 2007
Sixty Years of Pack Mentality........Merrill, Lynch, Pierce, Fenner & Beane recommend a certain stock
“…These guys all know each other, and they all have the same strategies. They came from the same schools, and they get together for drinks after work, The strategies employed tend to be not only duplicable but broadly followed — the result being a packlike tendency that has helped increase market volatility and, for some hedge funds, has led to losses in the last month.”
After reading “Fooled by Randomness” by N N Taleb and "A Short History of Financial Euphoria" by John Kenneth Galbraith, nothing comes as a surprise in financial world.
Over last few weeks, so-called sub-prime crisis in USA is growing on the world like a creeping wine. In such times, we need to remember Galbraith’s words: “…And tragedy can be quietly enjoyed when, as is not true of war, nothing is being lost but money.”
I have always doubted wisdom, expertise and integrity of almost all ‘visible and audible’ experts in Indian financial world. Watching CNBC and NDTV Profit is loads of fun. They get you sit-down comedians through the working day.
Their anchors even have invented funny language to entertain us :” stocks have gone up/down for themselves……markets do what they want to do……”. Anthropomorphism at its worst!
They remind you of Michael Crichton s words:
“ A lot of people complain that television lacks focus. But that's the nature of the medium. Television's not about information at all. Information is active, engaging. Television is passive. Information is disinterested, objective. Television is emotional. It's entertainment. Whatever he says, however he acts, in truth Martin has absolutely no interest in you, or your company, or your airplanes. He's paid to exercise his one reliable talent: provoking people, getting them to make an emotional outburst, to lose their temper, to say something outrageous. He doesn't really want to know about airplanes. He wants a media moment. If you understand that, you can deal with him.”
Artist : Whitney Darrow,Jr. The New Yorker Sept 13, 1947