Friday, October 10, 2008

Laughing it off

According to psychologists, at times of crisis, humour can provide a vital way of expressing frustration at a baffling situation. Humour is a psychological coping mechanism, it helps us to cope with difficulties.
It helps particularly with difficulties that we can't do much about, or ones we can't solve.So it is perhaps unsurprising that the current financial crisis has inspired a rich seam of humorous material.
Is this schadenfreude, or delight in the suffering of others? Are we relishing the misfortune of those richer than most of us? And are the jokers cruel to revel in the sufferings of those who are now losing their jobs and wealth? Not so, if you ask me.

Q: What is the definition of optimism?
A: An investment banker ironing five shirts on a Sunday night

Q: What is the one thing Wall St and the Olympics have in common?
A: Synchronized diving.

Q: What is the difference between a pigeon and a merchant banker?
A: A pigeon can still put a deposit on a Ferrari

Q: How many commodities traders does it take to change a light bulb?
A: None, they don't change bulbs; but the trading price of darkness plummets due to oversupply

J: When someone tells you 'I'm terribly sorry that the collateral debt obligations that were securitised as part of our ongoing risk amelioration programme have resulted in a capitalisation issue that affects our Human Resources capacity', what that means is: 'You're fired'.

J: If you had purchased $1000.00 of Nortel stock one year ago, it would now be worth $49.00. With Enron, you would have $16.50 left of the original $1000. With WorldCom, you would have less than $5.00 left. If you had purchased $1000.00 of Delta Air Lines stock you would have $49.00 left. If you had purchased United Airlines, you would have nothing left. But, if you had purchased $1000.00 worth of beer one year ago, drank all the beer, and then turned in the cans for recycling, you would have $214.00. Based on the above, the best current investment advice is to drink heavily and recycle. This is called the 401-Keg Plan.

Q: What's the difference between an investment banker and a large pizza?
A: A large pizza can feed a family of four.

Q: Why are all MBAs going back to school?
A: To ask for their money back.

Quote of the day (from a trader): "This is worse than a divorce. I've lost half my net worth and I still have a wife."

...

The sad thing is that the global economy is losing more money from the disappearance of forests than through the current banking crisis, according to an EU-commissioned study.

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