I’d like newspapers to pay us too, while we’re at it.
—Nick Denton on the appropriation by the Washington Post of the Erin Andrews story from Deadspin
To describe her as a minor figure in the history of philosophical thinking about knowledge and reality would be a wild overstatement. She’s irrelevant…She doesn’t understand the historical positions of thinkers on these issues, such as Hume and Kant. Even the minority of philosophers with some sympathy for her celebration of the virtues of selfishness usually find her general philosophical system embarrassing.
—Brian Leiter, Director of the Center for Law, Philosophy and Human Values at the University of Chicago
It’s the scrutiny. There is a reputation cost for being wrong. Buy-side research is not that kind of competition. It’s different kinds of clients.
—Partha Mohanram, Columbia
The findings raise questions about why investment firms continue to fund buy-side research and do not simply rely on the sell-side. Our evidence on the stock performance of buy-side recommendations is less surprising than the remarkably strong performance of the sell-side.
—Harvard Business School professors Boris Groysberg, Paul Healy, Devin Shanthikumar and George Serafeim, and Yang Gui from the University of North Carolina
The sell-side analysts know the individual companies better than the buy-side analysts or the money managers. When I talk to them, I get useful information.
—Jerome Dodson, who oversees $2.2 billion at Parnassus Investments in San Francisco
A 3% nominal GDP “new normal” means lower profit growth, permanently higher unemployment, capped consumer spending growth rates and an increasing involvement of the government sector, which substantially changes the character of the American capitalistic model.
Commodities in Short Supply
Hand Sanitizers is the only commodity reported in short supply.
—ISM June 2009
the good news is also the bad news. The economy is hitting bottom, but it’s a long, uphill climb to get out.
—Alan Blinder, 23 July 2009
Since the late 19th century, there have been 255 recessions in western economies. Of these, 164 have lasted just one year and only 32 have lasted for more than two years. In other words, two-thirds of recessions last a single year, and only one in eight lasts more than two years. If we strip out the peculiar circumstances at the end of the two world wars, 70 per cent of all recessions last just one year.
—Paul Ormerod, 27 July 2009: FT
The AP plan, remixed
Stilltitled 