“We’ve seen the S&P 500 drop 50% twice in the last 15 years. That is the new normal”, said Richard Kang of Emerging Global Advisors.
"The things that affect the investment world so profoundly are the things that were not foreseen. If they could be foreseen ... anticipated and adjusted to and factored into prices, they wouldn't have that cataclysmic effect," said legendary investor Howard Marks of Oaktree Capital.
“We don’t own anything really, we just borrow it,” said the late Ted Turner.
"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 chief investment officer of Legg Mason Capital Management.
“Savers are losers”, said a radio ad for a mortgage broker in Reno, Nevada.
“Incentive structures work, so you have to be very careful about what you incent people to do, because various incentive structures create all sorts of consequences which you can’t anticipate,” said Apple founder Steve Jobs.
"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."
“Of the 60 years I have been investing, only five of them have been really juicy,” said Oracle of Omaha Warren Buffett.
“The only surprise to me is that so many people were surprised,” said Nobel Prize winning economist Joseph Stiglitz, about the financial crisis he predicted.
“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.