In 2010 I learned that …

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Josh Brown, writer of The Reformed Broker, asked a few dozen financial bloggers and commentators to send him their quotations starting with “In 2010 I learned that …”. Some of the pieces are below.

Prieur du Plessis (Investment Postcards): an open mind, common sense and a solid dose of one’s own research, as opposed to conventional wisdom, are the key ingredients for nailing the markets.

Justin Paterno (StockTwits): my Friday night routine of slapping on yoga pants and watching movies on my computer was stimulating the economy all along.

Jared Woodard (Condor Options): you may not care about the macroeconomy, but the macroeconomy cares about you.

Paul Kedrosky (Bloomberg): some people will pay a stupidly high price – both in portfolio and in reputation – so that they can one day say, “I told you so”.

Michelle Leder (footnoted): selling your company and having a baby (in close proximity to one another) is something that only a truly crazy person would attempt to do.

Stacy-Marie Ishmael (FT Tilt): Truthiness applies to finance just as much as it does to politics.

Barry Ritholtz (The Big Picture): despite all of the talk about Democratization of investing, Wall Street primarily serves only the very wealthiest Americans. And that is a shame.

The Fly (Outer Space): it pays to go bankrupt.

Mike Konczal (Rorty Bomb): my friend JW Mason is correct: in order to understand value judgments (great news, disaster, opportunity, worry) made by economists and financial journalists, you need to add “for bondholders” for it to make sense.

The Weakonomist (Weakonomics): markets are only as efficient as the engineers that programmed them

Cardiff Garcia (FT Alphaville): your blunders are easier to forgive if you’re not an asshole, your triumphs easier to ignore if you are.

Noah Rosenblatt (UrbanDigs): nothing is really secret anymore.

Leigh Drogen (SurfView Capital): “social leverage” is definitely not just a Howard Lindzon catch phrase.

Eli Radke (Trader Habits): I should never bet against the resilience of those in finance, sequels are never better than the original and Tony Robbins is an idiot.

Joe Donahue (Upside Trader): Larry Summers was really a mannequin.

Kid Dynamite (Kid Dynamite’s World): It’s a momentum world and we’re all just living in it.

Click here for the full list.

Source: The Reformed Broker, December 31, 2010.

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