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 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 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...]

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 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 1, 2013 – Quote of the Day

Woman-sleeping

“I think we’re headed towards VAT taxes. It’s only a question of how long it takes for them to wake up and figure it out. You can’t tax the wealthy enough to close the budget deficit we have,” said Leon Cooperman of hedge fund Omega Advisors. … [Read more...]

April 29, 2013 – Quote of the Day

Binoculars

“It's very difficult to navigate a business through a paradigm shift. You must hard wire your system to second guess all the time, questioning what is next, and then what is next. You've got to retain optionality for both investment portfolios and the business your run to navigate this well,” said Mohamed El-Erian, co-chairman of the bond house PIMCO. … [Read more...]

April 18, 2013 – Quote of the Day

Heart-broken

I can tell you from talking to institutions that, after 13 years of having their hearts broken by the stock market, they are still leery of stocks even with the recent rally,” said Howard Marks, founder of distressed debt giant, Oaktree Capital Management. … [Read more...]

April 16, 2013 – Quote of the Day

Oliver Wendell Holmes

“Taxes are what we pay for a civilized society,” said Oliver Wendell Holmes, a Supreme Court justice servicing at the time of the enactment of the tax code in 1913. The slogan is inscribed in huge letters on the face of the IRS headquarters in Washington DC. … [Read more...]

April 12, 2013 – Quote of the Day

Sign - True False

“When you look at the size of the US work force over the next 30 years, it is going to increase by 30%. That compares to Japan, where it is going to be shrinking, Europe, where it is contracting, and even China, where it turns down. The idea that the baby boomers are going to overwhelm this huge growth in the work force is a myth,” said Scott Minerd of money manger, Guggenheim … [Read more...]

April 11, 2013 – Quote of the Day

Bull Fight

There are three things that kill bull markets, interest rates, inflation, and valuation, and none of those are prevalent as we sit here. Equity markets are discounting too pessimistic of a future,” said Jeff Mortimer, Director of Investment Strategy, BNY Mellon Wealth Management. … [Read more...]

April 1, 2013 – 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 fianncial advisor in Louisiana, with $2.8 billion in assets. … [Read more...]

March 28, 2013 – Quote of the Day

Angry Couple

“I’m not in favor of breaking up the large banks. But if push comes to shove and there is no other way to eliminate the “too big to fail” problem, which is getting worse, and not better, I would be in favor of breaking up the big banks,” said former Federal Reserve chairman, Alan Greenspan. … [Read more...]

March 11, 2013 – Quote of the Day

Beach

“One must marvel at where the stock market is in relation to the rest of our world. With the economy in relation to the politics, it’s not a happy time. If you look at how they were viewing Obama just before the election, we’ve just walked through the raindrops in regards to the stock market with the fiscal cliff, the debt ceiling crisis, and all sorts of other issues that were … [Read more...]

March 7, 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 Black Rock. … [Read more...]

February 28, 2013 – Quote of the Day

Jimmy Carter - fullshot

“When former president, Jimmy Carter, once addressed a graduating class in Japan, they suddenly broke out into wild laughter. He later insisted that the interpreter tell him what he said. After much prodding, he confessed “I said the president has just told a joke, and you must laugh.” … [Read more...]

February 25, 2013 – 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...]

February 22, 2013 – Quote of the Day

India's Masses

“Changes in consumption stemming from per capita income rises from $1,000 a year to $5,000, as you are seeing in India, or $5,000 to $10,000, as you are seeing in China, is a very different kind of consumption. It is much more commodities heavy, it is food heavy, it draws a lot more on water supplies,” said Ian Bremmer, president of the Eurasia Group, an New York Based think … [Read more...]

February 6, 2013 – Quote of the Day

Dominoes

You’ve already seen Greek bonds fall by 90%. The dominoes in Europe will fall. There’s no way around it. Imagine a group of countries that have been fighting for 200 years suddenly ceding their sovereignty to Germany, or to some other higher authority,” said Kyle Bass of hedge fund Hayman Capital Management. … [Read more...]

February 5, 2013 – Quote of the Day

Drinking Shots

“I look at the Fed and think we’re partying like its New Year’s Eve, 1999. We’re drinking booze, and taking tequila shots. They have the pedal pressed so far down, I know it’s going to end badly. When rates go higher, they are going to go so much higher than people anticipate that there will be significant collateral damage,” said Joe Lavorgna, Deutsche Bank Chief Economic. … [Read more...]

February 1, 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...]

January 31, 2013 – Quote of the Day

Ping Pong

I don’t know that the retail investor matters anymore. They didn’t come back to the market after the 2000 crash. The idea that the individual investor believes in the stock market now is challenged. We have a market that is increasingly institutional investors trading back and forth with each other”, said Dan Greenhouse, chief global strategist at BTIG. … [Read more...]