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Quotes of the day

Posted by Richard Friday, October 10, 2008

Via Reuters:

"This is panic... There's nothing left for us to trust," said Takashi Ushio, head of investment strategy at Marusan Securities. "Investors are scurrying to convert to cash. A lack of confidence is coupling with panic."

And, from Warren Buffett in 2002: "In fact, the reinsurance and derivatives businesses are similar: Like Hell, both are easy to enter and almost impossible to exit."