Stilltitled

The belief now is that the world is not so American- centric anymore. It’s going to be driven more and more by the Chinese economy and consumer so might as well load up more on Chinese banks than American banks.
—Melvyn Teo, associate professor of finance at the Singapore Management University

We have also been re-assessing our long term portfolio balance over the last two years. As Asia continues to develop, it continues to de-risk. We are increasingly more confident of Asia’s future.
—Ho Ching, CEO Temasek, said in a speech on 12 May. She went on to explain that Temasek would cut their OECD holding to 20% and expand exposure to Russia, Latin America and Africa. The consequence, however, is a rebalance away from Asia, as well, which at >40% is higher than their current allocation

We’ve been very heavily overweight in Asia for some years now and leery of the Western financial institutions because Asia is where the growth is at.
—Hugh Young, managing director at Aberdeen

the elevation of appearance over substance, celebrity over character, short-term gain over lasting achievement is precisely what your generation needs to help end.

—Obama

As communion with the Sunday paper has replaced churchgoing, there is a tendency to forget that sermons had at one time been coupled with news about local and foreign affairs, real estate transactions, and other mundane matters. After printing, however, news gathering and circulation were handled more efficiently under lay auspices.

…

The pulpit was ultimated displaced by the periodical press, and the dictum “nothing sacred” came to characterize the journalist’s career.

…

The displacement of pulpit by press is significant not only in connection with secularization but also because it points to an explanation for the weakening of local community ties. To hear an address delivered, people have to come together; to read a printed report encourages individuals to draw apart.

—Elizabeth Eisenstein, The Printing Revolution in early Modern Europe

Microsoft turned something that Britannica considered an asset (a door-to-door salesforce) into a liability.
—Josh Kopelman on shrinking a market