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street quotes

Here's a look at some memorable quotes on investing from the week:



'I FEEL YOUR PAIN?' THAT'S FOR SISSY POLITICIANS!

"My heart goes out to those people who took risk and went out and invested in what they thought was a reasonable investment - but anyone that invests takes a certain amount of risk." Alberta Premier Ed Stelmach reaches out (but not very far) to voters who had investments with Millowe Brost and Gary Sorenson, a pair of Calgary-based businessmen charged this week by the RCMP in an alleged $400-million Ponzi scheme. While he expressed sympathy, he said the province won't put up any money to compensate for their losses, arguing that Albertans' stomach for risk is "why we're as prosperous as we are."



LIAISING WITH A PROACTIVE JARGON DISEMPOWERER

"When you hear and read about 'liquidity' driving the market, it is usually a catch-all phrase for 'we have no clue,' but it sounds good." David Rosenberg, chief economists at Gluskin Sheff + Associates Inc. , figures his fellow pundits have absolutely no idea how the stock market has managed to gain 60 per cent on the thinnest threads of an economic recovery, but many of them would sooner toss out vaguely defined buzzwords than admit it.

LORD, SAVE OUR BONUSES

"Clearly, there is huge public anger about bonuses, and there were people who were paid obscene amounts of money. But I'm afraid that in my view, that was a result of the system, wasn't the cause of the problem. … Hitting it with a sledgehammer, in my opinion, is not the way to make it work better." Lord Peter Levene, chairman of Lloyd's of London, tells CNBC that calls at the European Union leaders' meeting this week to clamp down on bankers' bonuses are misguided. He's worried that tight caps on bonuses would drive banking talent to less-restrictive jurisdictions, and could eventually undermine London's status as a world-leading financial centre. (Lord Levene's own bonus last year was a modest $175,000.)





UNEMPLOYED? BROKE? THIS BUD'S FOR YOU!

"Given where the economy is and unemployment, I would say that beer has proven to be very resilient." Carlos Brito, CEO of Anheuser-Busch InBev NV, tells the Wall Street Journal that the beer biz has held up well despite (or maybe because of?) the recession - even though drinkers have shifted toward the cheaper end of the company's product line. The company, which this week relaunched its New York Stock Exchange listing 10 months after InBev's takeover of Anheuser-Busch, saw its profit jump 43 per cent in the second quarter, to $1.74-billion (U.S.).

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