October 9, 2013 – Quote of the Day

Dice

It amazes me how quickly amnesia sets in,” said Stephen Crawford, former co-president of Morgan Stanley, about the willingness of hedge funds to re-leverage positions in these conditions. … [Read more...]

October 7, 2013 – Quote of the Day

Man holding nose

“Revenues stink in the banking area. This decade will be the worst for revenue growth since the Great Depression,” said Mike Mayo, the controversial banking analyst at the Asian broker and research house, CLSA. … [Read more...]

October 2, 2013 – Quote of the Day

apple logo

“Apple is the biggest no brainer in the history of the earth. It just makes no sense for it to trade where it is; seven times enterprise value to free cash flow, 14% free cash flow yield to enterprise value, and 10% simple free cash flow yield. If Apple were a junk bond it would trade 40% higher,” said Bill Miller, the legendary fund manager at Legg Mason … [Read more...]

October 1, 2013 – Quote of the Day

Men - Guns

“Farce reigns and risk aversion rises,” Kit Juckes, global strategist at Societe Generale SA in London, wrote in a note to clients. “The U.S. is still heading towards a shutdown, the Italian government is heading for a confidence vote that probably precedes elections. Yen up, euro down.” … [Read more...]

September 30, 2013 – Quote of the Day

Stop Watch

“For several decades on Wall Street, the short term sensibility has been encouraged and compensated very highly,” said Michael Lewis, author of “The Big Short.” … [Read more...]

September 25, 2013 – Quote of the Day

“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...]

September 24, 2013 – Quote of the Day

Wicked Witch

“I’d much rather have the Wicked Witch of the East go away. We’d be way better off if we ended quantitative easing real fast so this scapegoat can get behind us,” said Ken Fisher of Fisher Investments. … [Read more...]

September 23, 2013 – Quote of the Day

Jim Carrey

“The barriers to Wall Street are quite low, once you have the Ivy League credentials. If you’re a certain kind of kid who doesn’t actually know anything about anything, Wall Street is still a great place to go,” said Michael Lewis, author of “The Big Short.” … [Read more...]

September 20,2013 – Quote of the Day

Baseball

“This is very bullish for markets. It’s bullish for markets intermediate term. Before, I thought we were in the seventh inning of a four-year bull market. Two waiters just came in and delivered another punch bowl. We’re going into extra innings, baby,” Said Stanley Druckenmiller of hedge fund Duquesne Capital Management, about the Fed’s decision not to taper. … [Read more...]

September 19, 2013 – Quote of the Day

David-Statue

“AIG was regulated by the Office of Thrift Supervision, which I abolished. Actually, instead of abolishing it, I wanted to change the name to the Office of Fig Leaf Dispensation,” said former chairman of the House Financial Services Committee, Barney Frank. … [Read more...]

September 16, 2013 – Quote of the Day

Baseball

There are many companies in the US that are running out of time because of leverage. There is still $1 trillion in distressed or defaulted debt. Any company that could refinance has already done so. For all those companies that couldn’t refinance, they’re going to be hitting a wall this year or next year,” said Marc Lasry, chairman of Avenue Capital Management, a top performing … [Read more...]

September 12, 2013 – Quote of the Day

Heart Shorts

“If there were no way to short stocks, the probability of stock market bubbles would be much greater,” said hedge fund manager, Bill Ackman, of Pershing Square. … [Read more...]

September 10, 2013 – Quote of the Day

George Bernard Shaw

“Few people think more than two or three times a year; I have made an international reputation for myself by thinking once or twice a week,” said the Irish Nobel Prize winning playwright and cofounder of the London School of Economics, George Bernard Shaw. … [Read more...]

September 6, 2013 – Quote of the Day

Woman-Evening Gown-Car Crash

“Something is going to be passed by the congress. The only question is, will it happen before, or after a bond market crisis. There’s no alternative,” said Dr. Alan Greenspan, former chairman of the Federal Reserve. … [Read more...]

September 5, 2013 – Quote of the Day

Tesla

“Tesla (TSLA) is running faster than everyone else, so it’s hard to see how others can close the gap. I think the market smells this,” said Colin Rusch of Northland Capital Markets, and early investor in the Tesla IPO. … [Read more...]

September 4, 2013 – Quote of the Day

Line Dancers

“No one is line dancing over the fact that the market is at 1,630. No one feels good about it. The market likes to climb a wall of worry, and the mason 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...]

September 3, 2013 – Quote of the Day

“I served seven years as the chair of the Princeton Economic Department where I had responsibility for major policy decisions, such as whether to serve bagels or doughnuts at the department coffee hour, said chairman of the Federal Reserve, Ben Bernanke. … [Read more...]

August 30, 2013 – Quote of the Day

Man-Sunglasses

“The sentiment in the bond market now is basically fear and loathing. People have gone from “I don’t care about volatility, I want income” to “I don’t care about income, I don’t want volatility,” said Jeffrey Gundlach, CEO and CIO of bond manager DoubleLine. … [Read more...]

August 27, 2013 – 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...]

August 26, 2013 – Quote of the Day

Ten Dollar Bill - new

“Why has government been instituted at all? Because the passions of man will not conform to the dictates of reason and justice without constraint,” said America’s first Treasury Secretary, Alexander Hamilton. … [Read more...]

August 23, 2013 – Quote of the Day

Lady Liberty

“The next time we have a global economic crisis it will be much worse than in 2008. There will be money printing and war. The whole system will collapse. You don’t want to own government bonds and cash. Equities don’t do well, but at least you still have the ownership of companies. Precious metals do well in that environment, and so does oil,” said Mark Faber, publisher of the … [Read more...]

August 16, 2013 – Quote of the Day

Target-Arrows-Bullseye

“Lacking standards, managements are tempted to shoot the arrow of performance, and then paint the bull’s eye around wherever it lands,” ” said “Oracle of Omaha”, Warren Buffet, CEO and the largest shareholder in Berkshire Hathaway. … [Read more...]

August 15, 2013 – Quote of the Day

House on Fire

“A house can be a nightmare if the buyer’s eyes are bigger than his wallet and if a lender –often protected by a government guarantee—facilitates his fantasy,” said Warren Buffet. … [Read more...]

August 13, 2013 – Quote of the Day

Warren Buffett

“Money will always flow towards opportunity, and there is an abundance of that in America….America’s best days lie ahead” said “Oracle of Omaha”, Warren Buffet, CEO and the largest shareholder in Berkshire Hathaway. … [Read more...]

August 9, 2013 – Quote of the Day

dice

“Banks have turned into gigantic gambling institutions. You never know what you own. I wouldn’t touch them if you pointed a gun to my head,” said legendary hedge fund manager Bill Fleckenstein on Hedge Fund Radio. … [Read more...]

August 7, 2013 – Quote of the Day

Bubbles

“There is one peculiarity about mass psychology in that when you are in a bubble, you can’t see it. Bubbles are invisible when you are inside the bubble,” said the charming Jim Dines, of The Dines Letter. … [Read more...]

August 6, 2013 – Quote of the Day

girl with money

If you can get a dividend higher than the yield on ten-year debt, it’s an opportunity we haven’t seen in our lifetime. On a five-year horizon, investing in large multinationals with high dividends will have a large payday,” said Lawrence Fink, CEO of BlackRock. … [Read more...]

August 5, 2013 – Quote of the Day

high_dive

“People think that Treasury bonds are riskless, but a 100 basis point rise in interest rates leads to an 18% capital loss,” said Andrew Neale, a portfolio manager at Fogel Neale Partners. … [Read more...]

July 31, 2013 – Quote of the Day

Woman - Afghan

“If we had not entered the war in Iraq, the war in Afghanistan would be over by now,” said Richard Engle, NBC News’ chief foreign correspondent, who spent five year in the country. … [Read more...]

July 23, 2013 – Quote of the Day

warren-buffett

“I enjoy issuing Berkshire stock as much as I relish preparing for a colonoscopy” said Oracle of Omaha Warren Buffet of Berkshire Hathaway (BRK/A). … [Read more...]

July 17, 2013 – Quote of the Day

Minefield-Explosion

“It’s a bit like looking for gold in a minefield,” said Fidelity International’s China Special Situation Fund manager, Anthony Bolton, amid widespread accounting fraud in the country. … [Read more...]

July 15, 2013 – Quote of the Day

President Richard Nixon

“Never again will the dollar be held hostage in the hands of speculators,” said President Richard Nixon when he took the US off the gold standard in 1971. The Dow Average posted its largest point gain in history the next day. … [Read more...]

July 10, 2013 – Quote of the Day

Nails

“We have few, if any spare tires left,” said Mohamed El-Erian, CIO of mega bond house PIMCO, about the nail studded road ahead for the US economy. … [Read more...]

July 9, 2013 – 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...]

July 5, 2013 – Quote of the Day

dice

“Free choice is not relevant in financial markets because there are too many players. A stock with a million holders is much more predictable than one with five,” said Charles Nenner, of Charles Nenner Research in Amsterdam. … [Read more...]

July 2, 2013 – 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...]

July 1, 2013 – Quote of the Day

Blowing Bubbles

“If there were no way to short stocks, the probability of stock market bubbles would be much greater,” said hedge fund manager, Bill Ackman, of Pershing Square. … [Read more...]

June 26, 2013 – Quote of the Day

monks

“At some point in 2013, knuckles are going to be turning white, and we’ll see whatever rabbits Ben Bernanke is going to have to pull out of his hat”, said David Rosenberg of Gluskin, Sheff in Associates … [Read more...]

June 24, 2013 – 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...]

June 20, 2013 – Quote of the Day

Father & Son-doors

Sometimes we stare so long at a door that is closing that we see too late the one that is open,” said Alexander Graham Bell, inventor of the telephone. … [Read more...]

June 17, 2013 – Quote of the Day

chicken

“The art of taxation consists of so plucking the goose as to obtain the largest amount of feathers with the smallest amount of hissing,” said Jean-Baptist Colbert, a 17th century French minister of Finance. … [Read more...]

June 14, 2013 – Quote of the Day

I don’t like listening to the ratings agencies. It’s like talking to someone standing next to the smoking hulk of your house and listening to him tell you that your house burned down,” said Scott Nations of NationShares. … [Read more...]

June 13, 2013 – Quote of the Day

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...]

June 12, 2013 – Quote of the Day

“By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens,” said the ground breaking British economist, John Maynard Keynes. … [Read more...]

June 11, 2013 – Quote of the Day

thunderbird_1

“We are one budget deal away from being the hot spot of the world. Europe is in the toilet, China’s growth has fallen down, and the Middle East is going backwards. We have a lot of potential for fracking and innovation. If we can prove our nation is governable, we will be the golden spot in the world,” said David Brooks, a conservative columnist for the New York Times. … [Read more...]

June 5, 2013 – Quote of the Day

“If economists could manage to get themselves thought of as humble, competent people, on a level with dentists, that would be splendid,” said the ground breaking economist, John Maynard Keynes … [Read more...]

June 4, 2013 – Quote of the Day

“If you hear a "prominent" economist using the word 'equilibrium,' or 'normal distribution,' do not argue with him; just ignore him, or try to put a rat down his shirt,” said Nassim Nicholas Taleb, author of Antifragile: Things That Gain from Disorder.” … [Read more...]

June 3, 2013 – Quote of the Day

Janet Leigh

“Transparency is a good idea. Like my shower door, it lets in the light, but keeps out the flies,” said former Federal Reserve governor, Bob McTeer. … [Read more...]

May 31, 2013 – 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...]

May 30, 2013 – 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...]

May 29, 2013 – 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...]

May 28, 2013 – 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...]

May 21, 2013 – 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...]

May 17, 2013 – Quote of the Day

Barney Frank

Everybody wants to go to Heaven, but nobody wants to die,” said former congressman Barney Frank about the difficult in achieving true tax reform. … [Read more...]

May 16, 2013 – 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...]

May 14, 2013 – Quote of the Day

Girl-Questions-Puzzled

“An analyst is someone who knows a lot about a few things, and learns more and more about less and less, until eventually, he knows everything about nothing,” said Howard Marks, chairman of Oaktree Capital Management, at the Las Vegas SkyBridge Alternative Asset Conference. … [Read more...]

May 13, 2013 – Quote of the Day

Finish Line

“Everything begins and ends with quantitative easing”, said Jeffrey Gundlach, the CEO of hedge fund Doubleline Capital, and the new bond king. … [Read more...]

May 10, 2013 – Quote of the Day

Janet Leigh

“Transparency is a good idea. Like my shower door, it lets in the light, but keeps out the flies,” said former Federal Reserve governor, Bob McTeer. … [Read more...]

May 9, 2013 – Quote of the Day

Money-$100 Bills

“I don’t know who spends more, Democrats or Republicans, but Democrats seem to enjoy it more,” said former Federal Reserve governor, Bob McTeer. … [Read more...]

May 8, 2013 – Quote of the Day

Woman-with large chest

“Bonds are priced artificially because you’ve got some guy buying $85 billion 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...]