Posts Tagged ‘commodity’

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Hugh Laurie: Vulgar Commodity

Posted by admin on Thursday, March 16, 2023

Meaning of Hugh Laurie Money Quote: saying cash starts as a vulgar commodity and becomes a useful tool to buy stuff. Hugh Laurie said:

 
pretty vulgar commodity, is that you can use it to buy things Quote
 

“The only good thing I’ve ever noticed about money, the only positive aspect of an otherwise pretty vulgar commodity, is that you can use it to buy things” — Hugh Laurie

 

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In this quote, Hugh Laurie acknowledges that money itself is “an otherwise pretty vulgar commodity.” However, he sees one redeeming quality – that money can be used to purchase goods and services. So while Laurie seems critical of money and wealth accumulation, he recognizes money provides the practical benefit of acting as a medium of exchange.

We can interpret Laurie as saying that despite the negative aspects often associated with money, at minimum it allows basic economic transactions of buying necessities and goods that improve our lives. In a concise way, he’s pointing out that while money may be distasteful, it serves the practical purpose of obtaining things we need or bring us enjoyment.

Charlie Munger: Crypto Gambling

Posted by admin on Friday, February 10, 2023

Meaning of Charlie Munger Money Quote: saying Crypto is not a currency, it is a gambling contract with 100% favor for the house. Charlie Munger said:
 
cryptocurrency is not a currency, not a commodity, and not a security. 
It’s a gambling contract with 100% edge for the house Quote
 

“A cryptocurrency is not a currency, not a commodity, and not a security.
 Instead, it’s a gambling contract with a nearly 100% edge for the house” — Charlie Munger

 

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Charlie Munger considers cryptocurrency gambling rather than a currency for a few key reasons. He believes that unlike traditional currencies which are backed by governments, cryptocurrencies have no intrinsic value and their price is determined purely by speculation. Since the value can fluctuate wildly based on market sentiment, Munger sees it as similar to betting on an unpredictable asset.

He also argues that the structure of cryptocurrency favors those who trade it like a commodity over long-term users, since new coins are often released which dilutes the value of existing holdings. While cryptocurrency proponents view it as a new kind of currency, Munger takes the stance that it lacks the stability and purpose of a normal currency.

Steve Goodier: Money Commodity

Posted by admin on Thursday, October 27, 2022

Meaning of Steve Goodier Money Quote: saying there are many ways to give beyond just money – give whatever you can offer to those in need. Steve Goodier said:
 
Money is not the only commodity that is fun to give. We can give time, we can give our expertise, we can give our love or simply give a smile. What does that cost? Quote
 

“Money is not the only commodity that is fun to give. We can give time, we can give our expertise, we can give our love or simply give a smile. What does that cost? The point is, none of us can ever run out of something worthwhile to give” — Steve Goodier

 

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In this fuller quote, Steve Goodier is further expanding on the idea that while money is commonly seen as something that can be given, there are other valuable gifts one can provide that don’t require financial resources.

By asking “What does that cost?” and then stating “The point is, none of us can ever run out of something worthwhile to give”, Goodier is emphasizing that people always have the ability to enrich others through non-monetary means like giving their time, skills, care, encouragement or even just a smile.

His point is that regardless of one’s financial situation, there is always some commodity – be it time, expertise, compassion or other attributes – that a person possesses and can choose to share generously with others. According to Goodier, no one is ever devoid of some meaningful gift or contribution they can make simply by being willing to give of themselves.

David Hume: Commerce Exchange

Posted by admin on Wednesday, February 23, 2022

Money is not one of the subjects of commerce; but only the instrument which exchange of one commodity for another. David Hume said:
 
 
Money is not one of the subjects of commerce; but only the instrument which exchange of one commodity for another Quote
 

“Money is not, properly speaking, one of the subjects of commerce; but only the instrument which men have agreed upon to facilitate the exchange of one commodity for another” — David Hume

 

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In this quote, David Hume is making an observation about the role and function of money in commercial exchange. The best interpretation is:

  • Hume states that money itself is not actually one of the goods or “subjects of commerce” that are directly bought and sold.
  • He describes money as simply an “instrument” or tool that societies adopt to more easily enable the trading of real commodities between parties.
  • Hume implies that at its core, commerce is about the exchange of material products and services, not money, which acts as a lubricant making these trades more practical.

Overall, Hume appears to be suggesting that money’s true purpose is as a facilitator for efficient barter, rather than being an end in itself. It provides a standardized medium that allows actual commodities and services to change hands, but is not itself one of the subjects being exchanged according to Hume’s perspective.

Ralph Waldo Emerson: Commodity

Posted by admin on Monday, August 3, 2020

Ralph Waldo Emerson Money Quote saying money can be represented by products we all need in some form. Ralph Waldo Emerson said:
 
Money is the representative of a certain quantity of corn or other commodity. It is so much warmth, so much bread Quote
 

“Money is the representative of a certain quantity of corn or other commodity. It is so much warmth, so much bread” — Ralph Waldo Emerson

 

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In this quote, Ralph Waldo Emerson seems to be characterizing money as a symbolic stand-in for real commodities that have practical utility. By stating that money represents “a certain quantity of corn or other commodity”, and that it equates to tangible goods like “so much warmth, so much bread”, Emerson appears to be arguing that money derives its value from what it can be exchanged for in terms of necessities and provisions.

The quote conveys Emerson’s view that money is essentially a token allowing one to obtain goods and services essential for survival and well-being, like food and heat. Overall, Emerson portrays money as a medium of exchange rather than something intrinsically valuable – it serves as a token to acquire real resources that sustain life.

Warren Buffett: Commodities Bet

Posted by admin on Friday, May 22, 2020

Warren Buffett Money Quote saying that commodities require an increase in value over time to be profitable, whereas other investments produce ongoing income. Warren Buffett said:
 
The commodity itself isn't going to do anything for you… it is an entirely different game to buy a lump of something and hope that somebody else pays you more for that lump two years from now than it is to buy something that you expect to produce income for you over time Quote
 

“The problem with commodities is that you are betting on what someone else would pay for them in six months. The commodity itself isn’t going to do anything for you… it is an entirely different game to buy a lump of something and hope that somebody else pays you more for that lump two years from now than it is to buy something that you expect to produce income for you over time” — Warren Buffett

 

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In this quote, Warren Buffett is contrasting commodities investments with other types of investments. He is saying that when you invest in commodities, you are speculating or “betting” that the price of that commodity will be higher at some point in the future when you sell it. However, the commodity itself does not produce any income like dividends or interest payments.

You are simply relying on price appreciation. Buffett views this as more risky than investing in a company or asset that will generate regular income or cash flows over time from business operations. He is arguing that investments focused on long-term income are generally better than short-term commodity bets that rely on price fluctuations.

Warren Buffett: Commodity Smart

Posted by admin on Thursday, May 21, 2020

Warren Buffett Money Quote saying that commodities don’t require much intelligence. Warren Buffett said:
 
In a commodity business, it's very hard to be smarter than your dumbest competitor Quote
 

“In a commodity business, it’s very hard to be smarter than your dumbest competitor” — Warren Buffett

 

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Warren Buffett is saying that in businesses that deal with commodities, like raw materials, it can be difficult to gain an advantage through intelligence or strategy. Since commodities are largely undifferentiated products, if your least intelligent competitor makes a mistake like selling at too low a price, it can be hard to compete with that price and still make a profit.

So Buffett is pointing out that the commodity business takes less intelligence since your success is so tied to the actions of your competitors, including any unintelligent decisions they make.

Robert Crumb: Commodity Culture

Posted by admin on Friday, August 30, 2019

Robert Crumb Money Quote saying business and generating income makes every object something to be purchased. Robert Crumb said:
 
I hate business, having to deal with money. Money is one of the most hateful inventions of the human race. I hate the commodity culture, in which everything is bought and sold Quote
 

“I hate business, having to deal with money. Money is one of the most hateful inventions of the human race. I hate the commodity culture, in which everything is bought and sold” — Robert Crumb

 

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