“去年证券交易委员会将创纪录的64桩案件移交司法部发起刑事诉讼。今年司法部至少会得到同样多的案件。不管案件之间的细节有多少不同，它们大多具 有一个共同点：普通公民心甘情愿地上当受骗。无论计划有多么诡计多端，无论用于掩人耳目的伎俩有多么狡猾，如果不是人们心甘情愿，大多数股票诈骗都会彻底 失败。那些受害者在做其他事的时候非常理智，可一旦听到有在股市大发横财的机会时，他们就放弃了最起码的谨慎。”

"Last year the Securities & Exchange Commission turned over a record 64 cases to the Justice Department for criminal action. The Justice Department will get at least as many cases this year. However much one case may differ from another in detail, most of them have one thing in common: the willingness of ordinary citizens to be played for suckers. For no matter how subtle the scheme, no matter how devious the means employed to escape detection, most stock swindles would fail utterly if it were not for the willingness of otherwise sensible people to abandon even elemental caution when they hear of a chance to make a killing in the stock market."

——  《福布斯》1963年7月1日刊

 

摩根大通的损失是可以应付的，但它给了我们一个退后一步冷静质问的机会：“这件事暴露了银行体系的什么问题？”看起来交易本身过于复杂，以至于人们不能很好地理解风险。银行管理层不理解风险；监管机构者没察觉到风险；银行的风险管理制度没注意到风险。

The JPMorgan  loss  is manageable. But  it allows us  to stand back and ask: "What does this say about the banking system?" It appears the  trades  themselves were so complex  that  the risks were not well understood. The bank management didn't understand  them. The regulators weren't aware of  them. And  the bank's risk management system didn't pick them up.

——金融业高管莎莉·克劳切克

总的来说人们对投资界一无所知。可他们却深信自己拥有优势。

People have little idea, by and large, of the investment world. They are convinced they have an advantage.

——心理学家、诺贝尔奖获得者丹尼尔·卡尼曼

谈脸谱网首次公开发行遭遇的窘境：就像有人往果冻碗里扔了个樱桃炸弹。人人看起来都很糟糕。

On the Facebook IPO : It's like someone threw a cherry bomb in the Jell-O bowl. Everyone looks bad.

——硅谷巴克咖啡馆老板贾米斯·麦克尼文

一个令人瞠目结舌的事实是：70%的寡妇在配偶逝世后一年内解雇了财务顾问。在给30多个行业的产品或服务的满意度打分时，妇女们让金融服务业垫了底。

It's a startling and eye-opening fact  that 70% of widows fire  their fnancial advisors within one year of the death of their spouse. When it comes  to  satisfaction with a product or  service, women  rank the financial services  industry at  the bottom of nearly  three dozen categories.

——财富心理学专家凯瑟琳·伯恩斯·金斯伯里

2012年初成功的首次公开发行给脸谱网带来的任何商誉，都已经被脸谱网股价的大崩溃迅速蒸发掉。

Any goodwill generated by successful IPOs in early 2012 has been quickly sucked up by the Facebook debacle.

——传媒业企业家山姆·哈马德

如果你能得到购买一支上市新股的机会，别买它。只买你得不到的新股。

If you can get an IPO, don't buy it. Only buy IPOs you can't get.

肺腑之言，当以铭记！

shannon

Oct 17th, 2012