One thing I detest most about the financial press is the lack of accountability. All sorts of nonsense is said without penalty.

I find it funny that people who didn't think there was any inflation in the pipeline are now talking about stagflation. This is nothing like the 1970's, which was a pretty dismal period and not just because of polyester and disco.

'Excessive regulation in the banking reform bill will destroy a substantial part of our bond-distributing machinery. Can anyone expect that a step of this kind will improve the quality of our long-term investments?'

Salesmen always need something to sell.

This ugly duckling investment will likely need time - quarters, or even years - to blossom into a beautiful swan.

The market is going to love it. The market always seems to applaud major mergers, even though the vast majority of them don't work out and don't increase shareholder value.

The good news is that economists are intelligent, engaging and often charming folks. The bad news is their work is often of little use to investors.