Sunday, December 20, 2009

Approaching ULTIMATE Moral Hazard?

There was a SciFi short story that stuck with me for decades: The plot was that on one day every year, people were forced out of their bodies and had to play "musical chairs" with everyone else to get another one.  The offshoot was that no one took care of themselves.  Why not burn the candle at both ends since you won't be in that body for the consequences? 
"There are a lot of stock renters and not many owners." --lengendary stock gambler Jack Bogle, CNBC, December 16, 2009, 08:43:49

"We have lots of investors who are in the markets for the long run. They sometimes hold stocks for hours, even days."  --Carl Quintanilla, CNBC, December 16, 2009, 08:44:10


Anonymous Anonymous said...


3:37 PM  

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