“Only a faster-than-exponential stock market growth makes private investors feel richer.”
Source: Why Stock Markets Crash - Critical Events in Complex Systems (2003), Chapter 10, 2050: The End Of The Growth Era?, p. 375
Context: In order to have a continuing influence, the stock market has to continue rising at an accelerating pace faster than exponential. Only a faster-than-exponential stock market growth makes private investors feel richer.
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Didier Sornette27
French scientist 1957Related quotes
“Thus the so-called Moore's law is incorrect, since it implies only an exponential growth.”
Didier Sornette (1957) French scientist
Source: Why Stock Markets Crash - Critical Events in Complex Systems (2003), Chapter 10, 2050: The End Of The Growth Era?, p. 379.
Context: Faster-than-exponential growth also occurs in computing power, as measured by the evolution of the number of MIPS per $1,000 of computer from 1900 to 1997. Thus the so-called Moore's law is incorrect, since it implies only an exponential growth. This faster than exponential acceleration has been argued to lead to a transition to a new era, around 2030, corresponding to the epoch when we will have the technological means to create superhuman intelligence.
Benjamin Graham (1894–1976) American investor
Source: The Intelligent Investor: The Classic Text on Value Investing (1949), Chapter II, The Investor and Stock-Market Fluctuations, p. 41
“The stock market is not the economy, and the economy is not the stock market.”
Kai Ryssdal (1963) Radio host, United States Navy officer
repeatedly on his radio program " Marketplace APM https://www.marketplace.org/2019/09/30/the-stock-market-is-not-the-economy/" (September 2019)
John Stossel (1947) American consumer reporter, investigative journalist, author and libertarian columnist
Source: The Tragedy of the Commons https://abcnews.go.com/2020/Stossel/story?id=3893247&page=1, ABC News (21 November 2007)
Adam Smith (1723–1790) Scottish moral philosopher and political economist
Source: The Wealth of Nations (1776), Book I, Chapter IX, p. 111.
Ben Bernanke (1953) American economist
"A Crash Course for Central Bankers," http://www.foreignpolicy.com/story/cms.php?story_id=3272 Foreign Policy (September/October 2000)
“…there won’t be one, single global market. But there will be global investors.”
Kenneth Griffin (1968) American hedge fund manager
"The Age of Global Markets and the Global Investor," 25th International SFOA Bürgenstock Conference http://www.ioncorporation.com/presentation2.html <br class="br">From a presentation by Griffin.