We could say that people who eat grits, listen to country music, follow stock-car racing, support corporal punishment in the schools, hunt 'possum, go to Baptist churches and prefer bourbon to Scotch are likely to be Southerners.— John Shelton Reed
Heartwarming Preferred Stock quotations
Only those who will be sellers of equities in the near future should be happy at seeing stocks rise. Prospective purchasers should much prefer sinking prices.
I find it funny because people complain about Brooklyn becoming too hip, but would they prefer stock brokers or gunfights or something?
I would prefer to have one comfortable room well stocked with books to all you could give me in the way of decoration which the highest art could supply.
Getting stopped in the middle of the lingerie section, when you're trying to stock up on a few things, by an older man who wants a selfie is a little bit awkward... but I don't let that get in the way of me trying to do normal things, because that is when I get to interact with people as well. Preferably not amongst the underwear, though.
I think you'll have plenty of scrutiny as how the money's invested.
I mean, just like the RFC. When the RFC operated, people knew which institutions they were buying preferred stock in. And it worked very well.
That goes back to 1932, although it was really implemented in '33 under Jesse Jones, and it invested in mostly banks initially and preferred stock and that sort of thing. So there are two things needed in the system, the one that's needed overwhelmingly is liquidity. I mean, when people are trying to [unintelligible], there has to be somebody there to buy.
It takes 150 years to build an investment bank and only five minutes to convince you to sell me preferred stock in it at a 10% interest rate.
In essence, the stock market represents three separate categories of business.
They are, adjusted for inflation, those with shrinking intrinsic value, those with approximately stable intrinsic value, and those with steadily growing intrinsic value. The preference, always, would be to buy a long-term franchise at a substantial discount from growing intrinsic value.
I don't think it would be crazy to have a model or an entity model on the Reconstruction Finance Corp. That goes back to 1932, although it was really implemented in '33 under Jesse Jones, and it invested in mostly banks initially and preferred stock and that sort of thing.
Further strengthenings of the self-centered instinct for survival recruit even greater numbers of people into some sort of ring of fellowship (church or gender, red state or blue) by populating the terra incognita outside the ring with enough barbarians to verify the existence of a civilization within--to define the preferred stock by what, as all good people agree, it decidedly is not.
We would much prefer to see ownership in the hands of the Maple Group, if only because we would much rather see Canadian ownership of our stock exchange. What we are first of all interested in is making sure that Montreal is able to preserve that niche or expertise.
It is a celebrated thought of Socrates, that if all the misfortunes of mankind were cast into a public stock, in order to be equally distributed among the whole species, those who now think themselves the most unhappy would prefer the share they are already possessed of, before that which would fall to them by such a division. [as they realise their problems could be worse!]
Professors in every branch of the sciences, prefer their own theories to truth: the reason is that their theories are private property, but truth is common stock.