Climate
Climate is the statistics of weather over long periods of time. It is measured by assessing the patterns of variation in temperature, humidity, atmospheric pressure, wind, precipitation, atmospheric particle count and other meteorological variables in a given region over long periods of time. Climate differs from weather, in that weather only describes the short-term conditions of these variables in a given region.
Climate Change
Climate change is a change in the statistical distribution of weather patterns when that change lasts for an extended period of time (i.e., decades to millions of years). Climate change may refer to a change in average weather conditions, or in the time variation of weather within the context of longer-term average conditions. Climate change is caused by factors such as biotic processes, variations in solar radiation received by Earth, plate tectonics, and volcanic eruptions. Certain human activities have been identified as primary causes of ongoing climate change, often referred to as global warming.
Finance
Finance is a field that deals with the study of investments. It includes the dynamics of assets and liabilities over time under conditions of different degrees of uncertainties and risks. Finance can also be defined as the science of money management. Market participants aim to price assets based on their risk level, fundamental value, and their expected rate of return. Finance can be broken into three sub-categories: public finance, corporate finance and personal finance.
Finance
The world of finance is a mysterious world in which, incredible as the fact may appear, evaporation precedes liquidation.
Joseph Conrad, Victory: An Island Tale, part I, chap. 1 (1915)
Finance
Nothing in finance is more fatuous and harmful, in our opinion, than the firmly established attitude of common stock investors regarding questions of corporate management. That attitude is summed up in the phrase: "If you don't like the management, sell your stock." [...] The public owners seem to have abdicated all claim to control over the paid superintendents of their property.
Benjamin Graham, World Commodities and World Currencies (1944)
Finance
The real reason that physicians are rotten investors is that it never occurs to them that finance is a science, just like medicine.
William J. Bernstein The Four Pillars of Investing (2002), Introduction, p. ix.