U.S. Stock Market Loses $1.05 Trillion in 24 Hours - msn.com
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Recommended reading:
- Goldman Sachs to Lay Off Over 1,300 Workers - msn.com
- Goldman Trading Desk: "With Stocks at an All Time High, There is an Eerie Feeling That Something is Not Healthy Beneath the Surface" - zerohedge.com
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“Being short in 2007 and making money from it was fun, because we were short bad guys. In 2008 it was the entire financial system that was at risk. We were still short, but you don’t want the system to crash. It's sort of like the flood’s about to happen, and you’re Noah. You’re on the ark, ya, you’re okay, but you’re not happy looking out at the flood. That’s not a happy moment for Noah.”
Second quote: “In early October 2008 after the U.S. government had stepped in to say it would...absorb all the losses in the financial system and prevent any big Wall Street firm from failing.”
Third quote: “Maybe the best definition of investing is gambling with the odds in your favor. The people on the short side of the subprime mortgage market had gambled with the odds in their favor. The people on the other side – the entire financial system, essentially – had gambled with the odds against them. What’s strange and complicated about it is that pretty much all the important people on both sides left the table rich.”
And the last quote: “The world’s most highly paid financiers had been totally discredited; without government intervention, every single one of them would have lost his job. And yet those same financiers were using the government to enrich themselves. I can understand why Goldman Sachs would want to be included in the conversation about what to do about Wall Street. What I can’t understand is why anyone would listen to them”
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Warren Buffett: 10 Things Poor People Waste Money On - msn.com
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I did a quick Google search on Warren Buffet and found out he is 94 years old and has a net worth of $146 billion. Here is a quote from Warren Buffet: "You don't get paid for activity. You only get paid for being right."
I just hope Warren Buffet gets it right when it comes to our Lord Jesus and where his soul is going to spend eternity.
Recommended sermon: What is it Profited...? by Rev. Roger Higginson
The text for this sermon is Matthew 16:26: "For what is a man profited, if he shall gain the whole world, and lose his own soul? or what shall a man give in exchange for his soul?"
