“I’m more nervous about things which deaden the brain. I hardly ever take painkillers. Do you know that 2,500 people die of painkillers a year, which is a lot more than die of illegal drugs? I’m very puritanical about what I take.”
She is not, however, interested in drugs such as heroin or opium – and calls cocaine, which she’s taken “once or twice”, a thoroughly boring substance.
“It’s a greedy drug which brings out the less interesting side of humanity. It’s typical that it’s used in the City.
Psychedelic drugs are another matter altogether.
The lady of the manor is out to bend the nation’s mind - Times Online
Those investors who cling now to cash are betting they can efficiently time their move away from it later. In waiting for the comfort of good news, they are ignoring [ice-hockey player] Wayne Gretzky’s advice: “I skate to where the puck is going to be, not to where it has been.”
I don’t like to opine on the stock market, and again I emphasise that I have no idea what the market will do in the short term. Nevertheless, I will follow the lead of a restaurant that opened in an empty bank building and then advertised: “Put your mouth where your money was.”
Today my money and my mouth both say equities.
After an unprecedented 15 years of boom, the art market is showing the first signs of collapse.
On Friday evening Sotheby’s sale of contemporary art, including works by Andy Warhol and Damien Hirst, realised only £22m. Presale estimates were from £31m to a high of £43m.
I’ve taken more out of alcohol than alcohol has taken out of me.
Take last month’s circulation figures and compare them directly with September 2003, the month just before the first tabloid plans were hatched. See how shrinking page sizes worked out. The Indy was selling 218,567 then, 144,050 of them at full cover price (excluding bulk giveaways, overseas copies and cut-price wheezes). Last month it recorded 220,957 on the top line and sold 128,738 at full price, which is 15,312 down. The Times had a total sale of 629,815 in September 2003, of which 455,603 were at full price. Last month, that was 638,003 with 435,771 at full price, a 19,832 drop. The Guardian had 353,464 in overall headline terms, with 330,484 at full price, compared with a 348,878 headline last month and 287,288 at full price; 43,000-plus gone.And the unchanging Telegraph? In headline terms, 934,341 five years ago, with 546,905 at full price: Last month: 851,254 top-line and 379,595 at full price; 167,310 full-price 90ps gone.
Quote by Ruth Sutherland: We lost sight of the true worth of things. Now let’s get it back | Comment is free | The Observer
This collapse is likely to be profitable for one fund manager who has for decades made a point of sticking to his own fundamental notions of value: the American billionaire Warren Buffett. His great mentor was Benjamin Graham, an influential American investor whose key insight was that, on the stock market, there is a deceptively simple duality. Graham called this the Class One versus the Class Two truth. A Class One Truth is a sober assessment of a company’s objective worth at a point in time: the figure you get after you add up the value of its property, cash and other assets, then subtract its debts. A Class Two Truth, by contrast, is based on external factors such as emotion, fashion and herd instinct: it is ‘true’ only for as long as we continue to believe in it, just as a designer handbag is only worth £5,000 if people think so. When there is a discrepancy between the two types of truth on the stock markets, there is a chance to make money.