?Bull markets go everywhere from 1-2 years to five years after the Fed begins tightening. We've got a long way to go before we have to worry about bonds competing against stocks,? said Professor Jeremy Siegel of the Wharton School of Business
"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.
With the 20th anniversary of 9/11 just passed, I want to forward the message circulating among past-and-present Morgan Stanley staffers, myself included: As a firm headquartered in New York City, this is always a sobering time for us. For us, we remember those who died and the heroism of many that saved thousands of lives.
"Nobody knew it was August, 1982 until it was August, 1984," said Chris Verone, head of technical analysis at research boutique Strategas.
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."
"We have not been investing this year, we have been on a battleground," says noted UK hedge fund manager Crispin Oday.
"Technology has outrun the ability of the market to handle it. When the next bear market comes, there could be a messy affair," said my friend and client Leon Cooperman of hedge fund Omega Advisors.
"We underestimated the negative impact of the slowdown in the housing market, and we may be underestimating the tailwind in its recovery," said Uwe Mark Ruttke of Merrill Lynch, the top financial advisor in Colorado.
"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.
"Every attempt to make war easy and safe will result in humiliation and disaster," said the Civil War General, William T. Sherman.