Kabir Sehgal Quotes About Financial
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I think the money for the solutions for global poverty is on Wall Street. Wall Street allocates capital. And we need to get capital to the ideas that are successful, whether it's microfinance, whether it's through financial literacy programs, Wall Street can be the engine that makes capital get to the people who need it.
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We don't invest in financial literacy in a meaningful way. We should be teaching elementary school children how to balance a checkbook, how to do basic accounting, why it's important to pay your bills on time. First, education. Begin the learning process as early as possible, in elementary school. Second, encourage and support entrepreneurism. Third, policy. I know it's a priority of the US Treasury to augment financial inclusion and increase financial literacy.
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We need to have financial literacy in America, not just complaining about obstructionism. We need solutions. And I think the solutions are using high finance to make capitalism work for people around the world.
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All decisions originate in the brain. So if we can better understand what's happening in the brain when we make investment decisions, maybe one day we'll be able to make more accurate financial forecasts - for a stock or even the entire market.
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For the last several decades, there was a prevailing belief among traditional economists that the markets were rational and self-correcting. Alan Greenspan advocated this view. But the 2008 financial crisis showed that this view is incorrect, and Greenspan eventually admitted as much.
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