Quotable
Hanging on the wall above my office credenza is a portrait of Bernard Baruch, who authored the quotation, “Two plus two equals four and no one has ever invented a way of getting something for nothing.” Well, we’ve been there recently, with Dot Coms and subprimes and the financed-based prosperity of the past several decades. He also said, “Two plus two equals four, and you can’t keep mankind down for long.” Been there too, it seems, and the last 12 months are an apt example. Whatever the future holds, remember that a tablespoon is larger than a teaspoon, and that CQ beats IQ most of the time in the investment world. “Two plus two equals four” needs a lot of CQ, but requires only a second grader’s IQ.
Bill GrossPIMCO
Last 5 posts by MacroMan
- Thiel: Still heading toward deflationary endgame - August 4th, 2010
- Around the markets in 6 charts or less - May 6th, 2010
- Quoteable - April 29th, 2010
- Pimco Warns of Deflation Risk as Central Banks to Cool Stimulus - April 21st, 2010
- Grant vs Greenspan - April 7th, 2010
May 5, 2010 12:18 pm No Comments
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