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...]

January 30, 2013 – 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 29, 2013 – Quote of the Day

Moses

“Let us follow the wisdom of Joseph—pay down our debts and store up reserves against the leaner times that will surely come,” said California governor and former seminary student, Jerry Brown, quoting from the Old Testament. … [Read more...]

January 28, 2013 – Quote of the Day

Head Examined

“Anyone buying long term fixed income assets right here needs to have their head examined. You’ve got the 30-year yielding 3%, the 10-year yielding 1.8%, and triple “A” five-year corporates yielding less than 1%. When yields start to go up your capital is going to get obliterated,” said Steve Massocca of Wedbush Securities. … [Read more...]

January 24, 2013 – Quote of the Day

Ice Hockey

“There is a better chance that hockey is banned in Thunder Bay, Ontario, than the USA seeing a sustained 4% GDP growth rate when oil is above $100/barrel,” said Keith R. McCullough, CEO of Hedgeye Risk Management. … [Read more...]

January 22, 2013 – Quote of the Day

Lady Liberty

“Market players are starting to become desensitized to the Armageddon, end-of-the-world stories,” said Jim Paulsen, chief investment strategist at Wells Capital Management. … [Read more...]

January 18, 2013 – Quote of the Day

Spoiled Child

“I’m afraid there are going to be ashes in my stocking this year,” said Bill Gross of bond giant PIMCO, about his expectation of poor return for bond funds this year. … [Read more...]

January 15, 2013 – Quote of the Day

Gandolf

“When the environment gets really complex, investors tend to rely on superstition to help make investment decisions,” said Jeffrey Kleintop, chief market strategist at LPL Financial. … [Read more...]

January 11, 2013 – Quote of the Day

Rifle

“Giving some countries the Internet is like giving a cannibal an AK-47 assault rifle. No good will come of it,” said John C. Dvorak, editor of PC Magazine. … [Read more...]

January 10, 2013 – Quote of the Day

Homework

Quote of the Day “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,” saidMarc Chandler, the global head of currency strategy at Brown Brothers Harriman. … [Read more...]

January 4, 2013 – Quote of the Day

FiringSquad2

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

January 2, 2013 — Quote of the Day

falling_man

We have been pretending that we’re too big to fail. We’re not too big to fail, You can jump off of a 90 story building and feel fine for the first 89 stories. It’s the sudden stop at the end that tells you you’re not.” said Tom Friedman, New York Times columnist and author of Hot, Flat and Crowded.   … [Read more...]

September 26, 2012 — Quote of the Day.

“The nice thing about gold is that it has no PE multiple. Because it earns and yields nothing, gold is a speculation on the systematic debasement of currencies by central banks,” said Jim Grant of Grant’s Interest Rate Observer. … [Read more...]

September 24, 2012 — Quote of the Day

“There’s no exit. I think it’s more likely that the Fed buys all the Treasury bonds that exist than to work the opposite direction and start selling them. I have no concept of what the Fed exit strategy is going to look like. It’s way out in the future,” said Jeffrey Gundlach, CEO of fixed income manager Doubleline. … [Read more...]

September 18, 2012 — Quote of the Day

As opposed to the mentality of the last couple of years where you faded every piece of good news, we may be moving to a period where you fade the bad news because you know there is a clear game plan below it,” Jim O’Neill, chairman of Goldman Sachs International in London.   … [Read more...]

September 13, 2012 — Quote of the Day

“Facebook was being priced as if it were a beautiful woman without a blemish.  If any kind of blemish appeared, they will kill the stock.  I’d rather own Google or Apple,” said my old friend and former client, Leon Cooperman, CEO of mega hedge fund Omega Advisors. … [Read more...]

September 10, 2012 – Quote of the Day

“Over the next several years, you will be shocked and surprised at the strength of the emerging Chinese consumer,” said Stephen Roach, the former Chairman of Morgan Stanley Asia. … [Read more...]

September 7, 2012 – Quote of the Day

bad-economy

“No matter who wins the election, we still have a lot of wood to chop. There is no way we continue to run huge deficits without a severe market consequence,” said my old friend and former client, Leon Cooperman, CEO of mega hedge fund Omega Advisors.     … [Read more...]

September 6, 2012 – Quote of the Day

0703a_scary_market_top

“The most expensive advice that you will ever get is to be told at a market top that “This time it’s different,” said Harvard economics professor Kenneth Rogoff   … [Read more...]

September 4, 2012 – Quote of the Day

high-gas-prices-photo

“For the third year in a row, high oil prices have slowed down the general economy, because disposable income is lost to high gasoline prices,” said John Hofmeister, former CEO of Shell Oil.   … [Read more...]

August 31, 2012 – Quote of the Day

old

"I mind my own business," she told the Guinness World Records. "And I don't eat junk food," Said Besse Cooper, the world’s oldest person, on her 116th birthday in Monroe, Georgia. … [Read more...]

August 29, 2012 – Quote of the Day

probability1_s600x600

“I’m in the probability business, not the forecasting business. Certainties offer very low returns, uncertainties, high returns,” said venture capitalist, Vinod Khosla. … [Read more...]

August 29, 2012 – Quote of the Day

th_CLIF

“Central banks can do whatever they want. But there is no monetary policy powerful enough to prevent the U.S. from going into recession in the first six months of next year if the fiscal cliff happens,” said strategist, Dan Greenhaus. … [Read more...]

August 28, 2012 – Quote of the Day

LieutenantGeneralRayOdierno

“The strength of the Army must be credible enough to keep the knuckleheads abroad from miscalculating and instigating conflicts which they can’t win,” said Army Chief of Staff, General Ray Odierno. … [Read more...]

August 27, 2012 — Quote of the Day

savingface2

“There’s been a lot of lost face in asset allocation over the past five years. Who would have thought that government bond yields could have gone so low?” said Michael Turner, a strategist at Aberdeen Asset Management.       … [Read more...]

August 24, 2012 – Quote of the Day

Parents swear, and children suffer 2

“Right now, our politics are holding us back. It’s like being the children of permanently divorcing parents. The political environment is a real downer for a lot of people, and their holding back,” said New York Times columnist, Tom Friedman, author of the book, That Used To Be US. … [Read more...]

August 23, 2012 – Quote of the Day

steve-1

“Today, 20% of enterprises are using Apple computers on their desktop. For the first time in 30 years, for developers, it is Apple first, not Apple second. This fundamentally changes our investment thesis,” said Ann Winblad of Winblad Hummer Venture Partners. … [Read more...]

August 21, 2012 – Quote of the Day

wall-1

I’ve said it many times. Energy’s share of GDP at 17% is a wall. When we get to 17%, we almost always have a recession. And by the way, we are at 15% now,” said Joe Petrowski, CEO of the Cumberland Gulf Group, a petroleum marketer. … [Read more...]

August 20, 2012 – Quote of the Day

Zeus--greek-mythology-687267_1024_768

“We can’t even have a decent conversation about tax reform because there is so much mythology out there,” said former Treasury Secretary, Paul O’Neill. … [Read more...]

August 15, 2012 – Quote of the Day

Social Security Reform Becomes A Divisive Issue

“There will be much more printing of money because central bankers are willing to do that. This does solve problems, it postpones them so they can become larger,” said Mark Faber, publisher of the Gloom, Boom, and Doom Report. … [Read more...]

August 13, 2012 – Quote of the Day

twain-1

“I used to tell lies. But I’ve given it up, because the field has become overrun with amateurs,” said the great American 19th century humorist, Mark Twain. … [Read more...]

August 8, 2012 – Quote of the Day

hammer

“It’s ironic that just as we break out of a three year trading range, the market is about to be hit by a sledge hammer,” said Dave Rovelli at Canaccord Genuity. … [Read more...]

August 7, 2012 – Quote of the Day

pain-1

“There seems to be an impression that we can solve our problems without pain. There is no conceivable way that can happen,” said former Federal Reserve chairman, Alan Greenspan. … [Read more...]

August 6, 2012 – Quote of the Day

risk

“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...]

August 3, 2012 – Quote of the Day

bomb

“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...]

August 2, 2012 – Quote of the Day

study

“The rule of thumb is to do your homework, do your analysis, and 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...]

August 1, 2012 – Quote of the Day

consumer

“The consumer in the United States has basically disappeared. There are no jobs, no wage increases, and therefore no spending,” said Bill Gross of bond giant, PIMCO. … [Read more...]

July 31, 2012 – Quote of the Day

hands

“We didn’t get here by accident. America is the product of the greatest public/private partnership in the history of the world,” said Tom Friedman, international affairs columnist at the New York Times.   … [Read more...]

June 30, 2012 – Quote of the Day

arrow

“Computers crash, and you have to reboot them. That will happen to the global economy,” said Mark Faber, publisher of the Gloom, Boom, and Doom Report. … [Read more...]

July 27, 2012 – Quote of the Day

crash-1

“Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate,” said Andrew W. Mellon, President Herbert Hoover's Secretary of the Treasury. The Republicans did not win a presidential election for 20 years after that comment. … [Read more...]

June 26, 2012 – Quote of the Day

sc6

“ The modern Olympic Games are orgies of lachrymose nationalism. War by other means, warrior-athletes, watched by men in suits and uniforms….rogue California chemists running their eye popping, vein-clustered, vest stripping robots against degendered state laboratory freaks,” said author, Ian Sinclair, and outspoken critic of the Olympics. … [Read more...]

June 24, 2012 – Quote of the Day

sc1

“I used to tell lies. But I’ve given it up, because the field has become overrun with amateurs,” said the great American 19th century humorist, Mark Twain. … [Read more...]

July 20, 2012 – Quote of the Day

sc9

“Who knew the blockbuster this year would be a horror show,” said Tony Crescenzi, market strategist and portfolio manager at bond giant, PIMCO. … [Read more...]

July 18, 2012 – Quote of the Day

pic4

“I’m long tear gas after the Athens experience. They are going to need that tear gas in Rome and Madrid at some point,” said Steve Cortez at Veracruz Research. … [Read more...]

July 17, 2012 – Quote of the Day

ship2

“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 16, 2012 – Quote of the Day

man

“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 13, 2012 – Quote of the Day

sc6

“I’m long tear gas after the Athens experience. They are going to need that tear gas in Rome and Madrid at some point,” said Steve Cortez at Veracruz Research. … [Read more...]

July 11, 2012 – Quote of the Day

john2

“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 9, 2012 – 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 … [Read more...]

July 9, 2012 – Quote of the Day

bucket

“Earnings models that have worked over the last 10, 20, or 30 years don’t hold water anymore,” said Paul Schatz, president of Heritage Capital. … [Read more...]

July 5, 2012 – Quote of the Day

door

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...]

July 2, 2012 – Quote of the Day

warren

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...]

June 28, 2012 – Quote of the Day

woman

“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 27, 2012 – Quote of the Day

zimbabwe-1

“The number one performing stock market of the past ten years in nominal terms has been Zimbabwe. But if you bought equities there you lost all your money because the ZWD$3 trillion you made now buys you three eggs,” said Kyle Bass of hedge fund, Hyman Capital. … [Read more...]

June 26, 2012 – Quote of the Day

united

“Take 200 round trips to Australia, and you really start to rack up the miles,” said Tom Stoker, and automotive sales analyst who just surpassed 10 million frequent flier points on United Airlines. It makes my own 1 million miles seen puny by comparison.   … [Read more...]

June 25, 2012 – Quote of the Day

three_blind_mice

“For the president to not focus on the financial industry in the wake of a financial crisis, he would have to be blind,” said former Federal Reserve governor, Paul Volker … [Read more...]

June 20, 2012 – Quote of the Day

horserace

“Now, you are starting to see people front run hedge fund books. People are front running John Paulson’s book. Everybody can see this. People are starting to line up the ducks and ask which hedge funds are going to have redemptions. Which position should I get in front of? Gold is a big problem in that environment. Guess what? The biggest position in the hedge fund community is … [Read more...]

June 18, 2012 – Quote of the Day

psychiatist-1

“For the last 20 days, I feel like I have played psychologist more than I have played money manager,” said financial talk show host, Kyle Harrington. … [Read more...]

June 15, 2012 – Quote of the Day

BLENDER

“This is not 2008 or 2009. People are getting overblown with this hysteria. We are only 10% off the highs and have only given back gains. It’s like your wife may have been expecting diamond earrings and now she got a blender,” said Alan Knuckman, chief trading advisor at onestopoption.com. … [Read more...]

June 14, 2012 – Quote of the Day

banner-photo

“For Europe to be competitive, to reflect the seizing up of the economy, you need a Euro that is at par or lower,” said John Brynjolfson, managing director of hedge fund Armored Wolf … [Read more...]

June 12, 2012 – Quote of the Day

0612-7

“At some point in 2012, 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 11, 2012 – Quote of the Day

0611-11

“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 7, 2012 – Quote of the Day

301_Gunpowder

“China has more dry gunpowder than just about anyone in the world. But it now looks like the soft landing is turning into a hard landing,” said John Brynjolfson, managing director of hedge fund Armored Wolf. … [Read more...]

June 5, 2012 – Quote of the Day

euro-5

“From day one the euro has not really worked. The problem is that it is creating a huge degree of lack of competitiveness because their culture is different,” said former Federal Reserve chairman, Alan Greenspan. … [Read more...]

June 4, 2012 – Quote of the Day

work_044

“I will believe that corporations are people only when the states of Texas and Alabama start executing them,” said former Secretary of Labor, Robert Reich. … [Read more...]

June 1, 2012 – Quote of the Day

snail

“If there is no monetary stimulus and no fiscal stimulus, obviously we are going to continue to grow slowly. We could be in secularly slow growth for decades,” said Harvard economics professor, Ken Rogoff.     … [Read more...]

May 31, 2012 – Quote of the Day

dondraper

“What’s going on with Facebook? We had better IPO standards when Don Draper was on the scene,” said Sallie Krawcheck, former head of wealth management at Merrill Lynch. … [Read more...]

May 29, 2012 – Quote of the Day

ICP

“Europe has been diagnosed with cancer and they are attempting to treat it with massage, yoga, and carrot juice. If they go into recession, that affects us,” said Michael Farr of Farr, Miller, & Washington. … [Read more...]

May 25, 2012 – Quote of the Day

champagne party guy

“I would love it if they only allowed me and a whole bunch of psychotic drunks to trade in stocks. I would get very rich,” said Oracle of Omaha, Warren Buffett, about the European debt crisis. … [Read more...]

May 23, 2012 – Quote of the Day

SCREAM

“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 22, 2012 – Quote of the Day

FDR

In 1933, a supporter told Franklin Delano Roosevelt that if the New Deal succeeded, he would be remembered as the greatest president in history. He replied, “If I fail, I will be remembered as the last US president.” … [Read more...]