"A central bank is best that governs least, but is prepared to govern radically when called upon," said 19th century man of letters, Walter Bagehot, the first editor of The Economist magazine in London.
“The Fed can print dollars, but it can’t print confidence,” said David Bianco,
chief equity strategist at Bank of America Merrill Lynch.
"There is tremendous amounts of money sitting on the sidelines. There is enormous M&A activity. The greatest thinkers in the corporate world are saying that it is cheaper to buy than to build. This says to me that the stock market still has value in it. We're a long way from expensive," said Milton Ezrati, senior economist and market strategist for money management giant, Lord Abbett.
“An S&P 500 index fund never beats the index. There’s fees, there’s friction costs, and other costs involved,” said Robert Reynolds, a manager at Putnam Investment Fund.
"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem," said the late President,
Ronald Reagan.
“There is no sign of a recession anywhere,” a major bank economist told me in September 2007.
“Sitting tight is seldom recommended by Wall Street. Don’t ask the barber whether you need a haircut,” said Oracle of Omaha, Warren Buffet.
“Believe nothing that you hear, and half of what you see,” said the legendary investor, Ron Baron.
"Whenever I hear someone in finance say that a one in two-billion-year event just happened, I say that you just demonstrated you have a model for measuring tail risk that isn't any good," said former Treasury Secretary and Harvard University President Larry Summers.
“We can lead, but we cannot carry,” said Mike Ryan, chief investment strategist at UBS, about America’s role in the global economy.