The World Motivation
In my junior year in college, I was getting kind of tired of French. So, I took an economics course, and I loved it. The rest of my two years in college I spent in economics.
“In my junior year in college, I was getting kind of tired of French. So, I took an economics course, and I loved it. The rest of my two years in college I spent in economics.”
— Eugene Fama · College
In my junior year in college, I was getting kind of tired of French. So, I took an economics course, and I loved it. The rest of my two years in college I spent in economics.
I don't know what a credit bubble means. I don't even know what a bubble means. These words have become popular. I don't think they have any meaning.
In an efficient market, at any point in time, the actual price of a security will be a good estimate of its intrinsic value.
The investors who generate big returns over five years, the guys they write books about, are supposed to keep winning, right? Well, they don't.
People think rationally that the world really is more risky. Imagine in 2008 that investors thought there was a 10% chance we'd have a depression. That would partly justify the drop in prices.
No matter how fine your suit and your shoes, you will remind everyone that you are not yet a grownup man by wearing them with your old college knapsack, in its nasty, nylon glory.
My parents weren't stereotypical and pressuring me to go to college. They mentioned it a lot and constantly, but it wasn't a do or die thing, like, 'You have to do this or you're done.'
College has become a wide-open game - a lot of short passes, quick passes. Then you go to the pros and it's a whole different ballgame - things are happening faster, the patterns have to be more precise. Getting off the line of scrimmage is more difficult.
I realized that the only way to get into a good college was to be valedictorian or salutatorian. So that was my goal.