April 27, 2015 – Quote of the Day

Roach

“In the world of business, bad news often surfaces serially: You see a cockroach in your kitchen; as the days go by, you meet his relatives,” said oracle of Omaha Warren Buffett. … [Read more...]

April 24, 2015 – Quote of the Day

Preacher

“Though the preachers of pessimism prattle endlessly about America’s problems, I’ve never seen one who wishes to emigrate (though I can think of a few for whom I would happily buy a one-way ticket), said Oracle of Omaha Warren Buffet. … [Read more...]

April 21, 2015 – Quote of the Day

Roller Coaster

“My experience in business helps me as an investor, and my investment experience makes me a better businessman,” said Oracle of Omaha, Warren Buffett. … [Read more...]

April 16, 2015 – Quote of the Day

Isaac Newton

“I can calculate the motions of heavenly bodies, but never the madness of crowds,” said Sir Isaac Newton, the inventor of calculus and discoverer of Newton’s Laws, who lost his entire fortune in a 17th century investment scam called “the south Sea Bubble.” … [Read more...]

April 14, 2015 – Quote of the Day

Bear Crossing

“We are not going to get the returns in the next five years that we got over the last five years,” said Ed Keon, managing director of Quantitative Asset Management. … [Read more...]

April 13, 2015 – Quote of the Day

Dinasaur

“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. … [Read more...]

April 10, 2015 – Quote of the Day

Hot Air Balloon

“There is nowhere in the industrialized world where bond markets are looking for more than 2% inflation or more than 1% real interest rates over the next decade,” said former Treasury Secretary Larry Summers. … [Read more...]

April 9, 2015 – Quote of the Day

Woman Backpacker

“The central bank trade has been very fulfilling, but if you are going to play it now, do it aboard,” said Mohamed El-Erian, for co-CEO of bond giant PIMCO. … [Read more...]

April 2, 2015 – Quote of the day

Woman in glasses

“The stock market is one of those things that looks better the more expensive it gets,” said Barbara Marcin, portfolio manager of the Gabelli Dividend Growth Fund. … [Read more...]

April 1, 2015 – Quote of the Day

Woman-Anxiety

“There’s a lot of performance anxiety out there right now. There’s nothing worse than sitting on cash watching a market go up double digits,” said Tom Lee, chief US equity strategist of JP Morgan. … [Read more...]

March 31, 2015 – Quote of the Day

Girl Tight Jeans

“The time to worry about the Fed is not when they go from accommodative to neutral, it is when they go from neutral to tight,” said Bill Miller the legendary former chairman and CIO of Legg Mason Capital Management. … [Read more...]

March 30, 2015 – Quote of the Day

Animial Trap

“We’re in a secular bull market for the dollar. …A strong dollar is a natural consequence of America emerging from a liquidity trap, while Europe and Japan are still stuck in one. The dollar is a growth stock, and growth stocks over time outperform utilities,” said Paul McCulley, formerly the chief economist at bond giant PIMCO. … [Read more...]

March 27, 2015 – Quote of the Day

Sale

“If the dollar stays up here, a lot of companies are going to have to re price their products. Very few firms have the pricing power of Apple,” said my friend, Dan Niles, of Alpha One Partners. … [Read more...]

March 26, 2015 – Quote of the Day

Theodore Roosevelt

“In any moment of decision, the best thing you can do is the right thing, the next best thing is the wrong thing, and the worst thing you can do is nothing,” said President Theodore Roosevelt, whose oldest daughter, Alice Roosevelt Longworth I once met. … [Read more...]

March 25, 2015 – Quote of the Day

Peter Lynch

“Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost by corrections themselves,” said the legendary Fidelity money manager, Peter Lynch, who once told me I was the dumbest broker he had ever met. … [Read more...]

March 19, 2015 – Quote of the Day

Janet Yellen.

“Just because we removed the word “patient” doesn’t mean that we are going to be impatient,” said my friend, Federal Reserve Chairman Janet Yellen. That is pure Janet. I feel like I’m back at Berkeley. … [Read more...]

March 13, 2015 – Quote of the Day

gravity

“We are still in the gravitational pull of the Great Recession. I would have to put the likelihood of a double dip recession now up to 50%,” said my old UC Berkeley economics professor, Robert Reich. … [Read more...]

March 11, 2015 – Quote of the Day

Chinese Military

“If you can’t beat your Chinese competitor in China and win there, you will lose all the markets your like,” said David Cote, CEO of Honeywell.   … [Read more...]

March 9, 2015 – Quote of the Day

Line Dancers

“No one is line dancing over the fact that the market is at 1,940. No one feels good about it. The market likes to climb a wall of worry, and the stonemason has been hard at work. So I think we continue to grind higher,” said Jason Trennert, chief investment strategist at Strategas Research Partners. … [Read more...]

March 6, 2015 – Quote of the Day

Vladimir Putin

“I think this is about Russia reasserting itself on the international stage, basically saying that Russia is back and is a force to be reckoned with. I think we underestimated for a long time the extent of the humiliation that Russians felt after the collapse of the Soviet Union,” said former Secretary of Defense and CIA head Robert M. Gates. … [Read more...]

March 5, 2015 – Quote of the Day

Stanley Druckenmiller

By historic, fundamental measures, stocks are extremely high. PE multiples are at 100 years highs. But if you look at stock prices relative to interest rates, they are exactly where they should be,” said hedge fund legend, Stanley Druckenmiller. … [Read more...]

March 4, 2015 – Quote of the Day

War for Independence

“Our economic machine really works. It’s worked since 1776...Look at any milestone you want to pick, and over time it’s gotten so much better,” said Oracle of Omaha, Warren Buffett. … [Read more...]

March 3, 2015 – Quote of the Day

Warren Buffett

“It’s a terrible mistake to own something, just because somebody else owns it, even if that other person is Benjamin Graham, the dean of investing,” said Oracle of Omaha, Warren Buffett. … [Read more...]

March 2, 2015 – Quote of the Day

Otto von Bismarck

“A fool learns from experience. A wise man learns from the experience of others,” said Otto Von Bismarck, the first Chancellor of Modern Germany.   … [Read more...]

February 27, 2015 – Quote of the Day

Rockettes

“The next leg of the bull market is going to have to be a fundamental leg, not a liquidity leg, and investors are in a little bit of a malaise trying to figure that out,” said Anthony Scaramucci of Skybridge Capital. … [Read more...]

February 25, 2015 – Quote of the Day

Ghandi

“The last time oil stocks were this high, Gandhi was on the cover of Time Magazine and most Germans thought Hitler was clown. IT was 1930.” said Stephen Schork of the Schork Report. … [Read more...]

February 12, 2014 – Quote of the Day

Gorilla

“China is still the 800 pound gorilla. Maybe it’s no longer going to grow at 10%, but it’s still going to grow at a faster rate than Europe or the US,” said Edwin Rodriguez Jr., the biggest financial advisor in Louisiana, with $2.8 billion in assets. … [Read more...]

February 20, 2015

Global Market CommentsFebruary 20, 2015Fiat Lux Featured Trade:(A NOTE ON THE FRIDAY OPTIONS EXPIRATION),(FXY), (GILD), (SPY), (VIX),(TLT), (IWM), (QQQ), (SCTY), (USO), (GLD), (AN EVENING WITH TEXAS GOVERNOR RICK PERRY), (LNG), (UNG), (TSLA) CurrencyShares Japanese Yen ETF (FXY)Gilead Sciences Inc. (GILD)SPDR S&P 500 ETF (SPY)VOLATILITY S&P 500 (^VIX)iShares 20+ Year … [Read more...]

February 20, 2015 – Quote of the Day

Lake Tahoe

“…at last the lake burst upon us—a noble sheet of blue water…walled in by a rim of snow-clad mountain peaks...As it lay there with the shadows of the mountains brilliantly photographed upon its still surface I thought it must surely be the fairest picture the whole earth affords.” said the American writer, Mark Twain, on his first sight of Lake Tahoe in 1861, pictured below. … [Read more...]

February 19, 2015 – Quote of the Day

Kevin Spacey

“I want staffers who are so loyal that they will kiss my ass in Macy’s front window and tell everyone it smells like roses,” said the late president, Lyndon Baines Johnson, the model for the character, Francis Underwood, in the hit cable TV series House of Cards. … [Read more...]

February 13, 2015 – Quote of the Day

Evolution - Homo Sapiens

“Homo Sapiens, the first truly free species, is about to decommission the natural selection, the force that made us,” said E.O. Wilson, a Harvard University biology professor. … [Read more...]

February 11, 2015 – Quote of the Day

Winston Churchill

“A pessimist sees the difficulty in every opportunity, and optimist sees the opportunity in every difficulty.” said the late British Prime Minister, Winston Churchill. … [Read more...]

February 10, 2015 – Quote of the Day

Ticker Tape

"Where a calculator on the Eniac is equipped with 18,000 tubes and weighs 30 tons, computers in the future may have only 1,000 vacuum tubes, and weigh 1.5 tons." said Popular Mechanics magazine in 1949. … [Read more...]

February 9, 2015 – Quote of the Day

Surfing

“Most inventions fail because the timing is wrong. Inventing is a lot like surfing. You have to anticipate and catch the wave just at the right moment,” said computer scientist and futurologist, Ray Kurzweil. … [Read more...]

February 4, 2015 – Quote of the Day

U.S. Marines Plaque

“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. … [Read more...]

February 3, 2015 – Quote of the Day

Bad-Good Meter

"When you develop your opinions on the basis of weak evidence, you will have difficulty interpreting subsequent information that contradicts these opinions, even if this new information is obviously more accurate.” said Nassim Nicholas Taleb, author of Antifragile: Things That Gain from Disorder. … [Read more...]

February 2, 2015 – Quote of the Day

Neighborhood Oil Spill

“All we need to know about crude right now is that we have it coming out of our ears, both here and in the Middle East, and that’s why it’s headed to $40,” said Scott Nations, president of the options trading firm, NationsShares. … [Read more...]

January 28, 2015 – Quote of the Day

firingsquad

“As for the Swiss franc, there’s blood in the street and on the walls,” said Stephen Schwarzman, CEO of the Blackstone Group, a global private equity firm. … [Read more...]

January 26, 2015 – Quote of the Day

Quiz

“China has been doing everything right for the last ten years. Our government is made up of 'C' students that were political science majors, whereas, the Chinese government is made up of PhD's that were educated at Cambridge and Harvard,' said one Washington observer. … [Read more...]

January 22, 2015 – Quote of the Day

Financials Knife in Hand

“The stupid market cliché about catching a falling knife is actually happening now. This is a falling knife. You have to look at the market as a hot air balloon. You only want to grab it as it is going up. I don’t think dollar cost averaging is the plan here,” said Bob Iaccino at Traderoutlook.com. … [Read more...]

January 20, 2015 – Quote of the Day

bushnell2-9937

Steve Jobs offered me one third of Apple for $50,000 and I was so smart that I turned it down. It’s funny when you think about it now, except when I’m crying,” said Nolan Bushnell, the founder of game company Atari and Jobs’ first employer. … [Read more...]

January 14, 2015 – Quote of the Day

Lawn Smiley Face

“When asked how he manages the time to be chairman of Microsoft, run the world’s largest charity, and raise three kids, Bill Gates answered “I don’t mow the lawn.” … [Read more...]

January 13, 2015 – Quote of the Day

zimbabwe-1

“Over the long term, all of the fiat currencies of the world are involved in a competitive devaluation. The structural stresses in most of the western economies are such that centrals banks will attempt to continue to substitute liquidity for solvency.” said Rick Rule, chairman of Sprott US Holdings, a precious metals specialist. … [Read more...]

January 9, 2015 – Quote of the Day

firingsquad

“If You’ve lived long enough on Wall Street, you know that we shoot our wounded and eat our young,” said Brad Hintz, an analyst with Sandford Bernstein. … [Read more...]

January 7, 2015 – Quote of the Day

David Tepper

“2015 is setting up to be a repeat of 1999,” the year when NASDAQ delivered a nonstop melt up, rocketing by a stunning 85%, said my friend and hedge fund legend, David Tepper. … [Read more...]

January 5, 2015 – Quote of the Day

Grave Diggers

“Guys that are short, they better have a shovel to dig themselves out of the grave,” said legendary hedge fund manager, David Tepper, of Appaloosa Management. … [Read more...]

January 2, 2015 – Quote of the Day

Walter Bagehot

“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, an early editor of The Economist … [Read more...]

December 31, 2014 – Quote of the Day

Obama Inaugeration

“It is very important for President Obama to succeed,” said former President George W. Bush to Defense Secretary Robert M. Gates, three weeks after the inauguration. … [Read more...]

December 30, 2014 – Quote of the Day

20141230-4

"The Fed is not worried about inflation in the next few years and want growth first, growth second, and growth third. With the stabilization of Europe, the apparent pick up in China, and a US economy still on a reasonable footing, the Fed's heavy leaning to a growth policy should lead to a pretty favorable environment for the markets," said legendary hedge fund manager, David … [Read more...]

December 29, 2014 – Quote of the Day

Ben Bernanke

“We’re still operating off of Jackson Hole, 2011 when Ben Bernanke delivered his famous speech preceding quantitative easing,” said foreign exchange trader, Ira Harris. … [Read more...]

December 26, 2014 – Quote of the Day

Dinasaur

“People are investing with a rear view mirror. Last year, you had people legitimately scared out of the market. Unfortunately, you are losing a generation of investors at a time when they ought to be thinking about buying high quality stocks,” said Hersh Cohen of Clearbridge Advisors. … [Read more...]

December 24, 2014 – Quote of the Day

ice cream

“This isn’t a choice between vanilla and chocolate folks, it’s all rocky road: a few marshmallows to get you excited before the elections, but with a lot of nuts to ruin the aftermath,” said the ever insightful, Bill Gross, at PIMCO. … [Read more...]

December 23, 2014 – Quote of the Day

scale

“You can reduce discretionary spending down to zero and it won’t have much impact on our fiscal problems because it’s such a small proportion of the total,” said Ben Bernanke, chairman of the Federal Reserve. … [Read more...]

December 19, 2014 – Quote of the Day

Woman-Christmas

“If the Fed brings a lump of coal in the form of a taper, then they better brings some candy canes for the kids as well. It looks like they did,” said Bill Gross, CEO of bond giant, PIMCO. … [Read more...]

December, 18 2014 – Quote of the Day

Monopoly guy smoking cigar

“Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone,” said the legendary economist, John Maynard Keynes, founder of the modern monetary system. … [Read more...]

December 17, 2014 – Quote of the Day

Student

“The rule of thumb is to do your homework, do your analysis, don’t give up prudent risk management for the sake of certain fads. Look for real valuations, and stay true to your time frames,” said Marc Chandler, the global head of currency strategy at Brown Brothers Harriman. … [Read more...]

December 16, 2014 – Quote of the Day

Mouse Cuffs

“The three most harmful addictions are heroin, carbohydrates, and a monthly salary,” said Nassim Nicholas Taleb, author of Antifragile: Things That Gain from Disorder.” … [Read more...]

December 11, 2014 – Quote of the Day

Dumb & Dumber

“I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.” said oracle of Omaha, Warren Buffett. … [Read more...]

December 8, 2014 – Quote of the Day

Mike Myers Dr. Evil

“It’s basically evil, and I don’t think it should ever be allowed to reach the size that it did. Why should everyone pay a small group of people to basically engage in legalized front running of our orders,” said Berkshire Hathaway Vice Chairman, Charlie Munger, about high frequency trading.   … [Read more...]

December 4, 2014 – Quote of the Day

wile_e_coyote_gravity

“Interest rates are the physical gravity of financial assets. The lower they are, the higher assets will levitate,” said Anthony Scaramucci, the founder and managing partner of SkyBridge Capital, a leading hedge fund of funds. … [Read more...]

November 25, 2014 – Quote of the Day

Hot Air Balloon

“Bonds are priced artificially because you’ve got some guy buying tens of billions of dollars worth a month. That will change at some point, and when it does, people are going to lose a lot of money,” said oracle of Omaha, Warren Buffett. … [Read more...]