“The greatest hazard of all, losing one’s self, can occur very quietly in the world, as if it were nothing at all. No other loss can occur so quietly; any other loss – an arm, a leg, five dollars, a wife, etc. – is sure to be noticed… What we call worldliness simply consists of such people who, if one may so express it, pawn themselves to the world.”
Søren Kierkegaard, The Sickness Unto Death
“Price discovery is not a sexy function of markets, but it is critical to the efficient allocation of scarce capital and resources, and to the preservation of the long term wealth of investors and the economy as a whole. If price discovery is compromised by manipulation, then we will all be gradually impoverished and the economy will be imbalanced and unstable.”
London Banker, Lies, Damn Lies, and Libor
