Sunk costs? We pay too much attention to them.
Actions aimed at supporting deleveraging and balance-sheet repair - such as recognizing losses, writing down assets, and recapitalizing banks - carry longer-term benefits but short-term costs.
I think that public grieving is a good thing. People need to be grieved; loss needs to be acknowledged publicly, because it helps to confer a sense of reality on the loss but also because it makes it known that this was a real life.
The definition of a modern approach to war is the acknowledgement of individual lives lost.
I think when the bottom started to drop out, we didn't recognize it.
There is no such thing as a paper loss. A paper loss is a very real loss.
Forget the dead you've left, they will not follow you.
Since when do you have to tell the enemy when he has won?
Mark-to-market losses are not real loss. It's a notional loss.
