Open Outcry Quotes & Sayings

The stock exchanges have converted from "open outcry" where wild traders face each other, yelling and screaming as in a souk, then go drink together. Traders were replaced by computers, for very small visible benefits and massively large risks. While errors made by traders are confined and distributed, those made by computerized systems go wild - in August 2010, a computer error made the entire market crash (the "flash crash"); in August 2012, as this manuscript was heading to the printer, the Knight Capital Group had its computer system go wild and cause $10 million dollars of losses a minute, losing $480 million. — Nassim Nicholas Taleb

Ken appeared, was taller than she, wanted her, was acceptable and accepted on all sides; similarly, nagging mathematical problems abruptly crack open. Foxy could find no fault with him, and this challenged her, touched off her stubborn defiant streak. She felt between his handsomeness and intelligence a contradiction that might develop into the convoluted humour of her Jew. Ken looked lika a rich boy and worked like a poor one. From Farmington, he was the only son of a Hartford laywer who never lost a case. Foxy came to imagine his birth as cool and painless, without a tear or outcry. Nothing puzzled him. There were unknowns, but no mysteries. ( ... ) He was better-looking, better-thinking, a better machine. — John Updike

Over the years, the technology of trade has changed in response to advances in the ability to communicate. From its origins on the streets of Chicago, the Board of Trade moved to a building housing 'trading pits' for the open-outcry exchange by brokers representing buyers and sellers. — Dale T. Mortensen

Well the open-outcry auction is just made to turn the brain into mush: you've got social proof, the other guy is bidding, you get reciprocation tendency, you get deprival super-reaction syndrome, the thing is going away ... I mean it just absolutely is designed to manipulate people into idiotic behavior. — Charlie Munger

The painting showed a hairless, oppressed creature with a head like an inverted pear, its hands clapped in horror to its ears, its mouth open in a vast, soundless scream. Twisted ripples of the creature's torment, echoes of its cry, flooded out into the air surrounding it; the man or woman, whichever it was, had become contained by its own howl. It had covered its ears against its own sound. The creature stood on a bridge and no one else was present; the creature screamed in isolation. Cut off by - or despite - its outcry. — Philip K. Dick