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Everyone is afraid of each other

  
  Education
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The warrior of the light knows: everyone is afraid of each other.

This fear can generally be seen in two forms: through aggression, or through submission. They are two sides of the same problem.

That is why, upon being confronted by a someone who inspires terror, the warrior recalls: the other man is insecure, stressed, or scared. He has overcome similar obstacles, and has lived the same problems.

But he knows how to deal with the situation better.
Why? Because he uses fear as a motor, not as a brake.

Thus the warrior learns from his opponent, and keep cool, waiting for the storm to pass

Bill Gross Channels Michael Jackson In Latest Monthly Letter, Asks "What Makes A Great Investor?"

  
Analysis, Education
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From Bill Gross of PIMCO

I’m starting with the man in the mirror
I’m asking him to change his ways
And no message could have been any clearer
If you wanna make the world a better place
Take a look at yourself, and then make a…
Chaaaaaaaange ….. Must Read this………….!
— Michael Jackson
 
A Man in the Mirror
Am I a great investor? No, not yet. To paraphrase Ernest Hemingway’s “Jake” in The Sun Also Rises, “wouldn’t it be pretty to think so?” But the thinking so and the reality are often miles apart. When looking in the mirror, the average human sees a six-plus or a seven reflection on a scale of one to ten. The big nose or weak chin is masked by brighter eyes or near picture perfect teeth. And when the public is consulted, the vocal compliments as opposed to the near silent/ whispered critiques are taken as a supermajority vote for good looks. So it is with investing, or any career that is exposed to the public eye. The brickbats come via the blogs and ambitious competitors, but the roses dominate one’s mental and even physical scrapbook. In addition to hope, it is how we survive day-to-day. We look at the man or woman in the mirror and see an image that is as distorted from reality as the one in a circus fun zone. (more…)

Goldman Capitulates: Lowers GDP Forecast, Increases Unemployment And Inflation Outlook, Sees Imminent QE "Lite"

  
  Education
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It’s official: the double dip is here. Goldman’s Jan Hatzius just lowered his GDP forecast for 2011 from 2.5% to 1.9% (kiss goodbye all those 93 EPS estimates on the S&P), increased his unemployment forecast from 9.8% to 10.0%, boosted his inflation expectation from 0.4% to 1.0%, and said that QE lite is now on the table, as he expects that “the FOMC to announce that they will reinvest the paydown of mortgage-backed securities in the bond market at next Tuesday’s meeting.” Look for all other sell-side “strategists” (here’s looking at you Neil Dutta) to lower their economic outlook in kind, and the 2011 S&P consensus to decline accordingly.

From Goldman Sachs:

 
 

Over the past two to three months, the US economic recovery has lost a considerable amount of its momentum.   As a result, our forecast of a significant slowing in US growth in the second half of 2010—widely regarded as implausible just three months ago—is now increasingly accepted as the baseline.  As the data disappointments intensified in early July, we indicated that we would consider revisions to our economic outlook.  With the annual revisions to real GDP now behind us, we are making the following changes: (more…)

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