"It was the year of the derivative. From last spring on, as if a blockade of ice had suddenly given way, bad news about these exotic financial innovations started to flow, and victims, corporate and public alike, began to wash ashore. In the wake of billions of dollars in losses since then, opinions about these new-age instruments have drastically hardened. “Derivatives,” observes Richard Syron, chairman of the American Stock Exchange, which trades the species called puts and calls. “That’s the 11-letter four-letter word.” The word’s elevation to pejorative status is probably justified, but not simply because wild market swings turned many derivatives players into big losers last year. What magnified those losses and sent a troubling message to regulators was disturbing instances of managerial blindness, desperate behavior, even outright fraud."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Non-fiction authors from the United StatesJournalists from the United StatesEditors from the United StatesWomen from the United States
Original Language: English
Available Languages (1)
Sources
Imported from EN Wikiquote
https://en.wikiquote.org/wiki/Carol_Loomis
Revision History
No revisions have been submitted for this quote.
Categories
Carol Loomis
3 quotes on TrueQuotesView all quotes by Carol Loomis →
Related Quotes
"… When Fortune published its 2013 list of the world’s 50 Most Admired Companies, five among them were 25 years old or…"
"We were playing bridge at Kay Graham's apartment in New York — over on the East Side. I think the other two players w…"
"Would you end war? Create great Peace."
"To be a god First I must be a god-maker: We are what we create."
"Hearts starve as well as bodies: Give us Bread, but give us Roses."
"Up in the heights of the evening skies I see my City of Cities float In sunset’s golden and crimson dyes: I look, and…"
"They can only set free men free... And there is no need of that: Free men set themselves free."
"Hadn't he been blowing kisses to Earth millions of years before I was born?"
"Quick as a hummingbird is my love, Dipping into the hearts of flowers—She darts so eagerly, swiftly, sweetly, Dipping…"
"We age inevitably: The old joys fade and are gone: And at last comes equanimity and the flame burning clear."