?When a manager with a reputation for brilliance takes a business with poor fundamental economics, it is the reputation of the business that remains intact,? said oracle of Omaha, Warrant Buffett.
?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.
?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.
?We underestimated the negative impact of the slowdown in the housing market, and we may be underestimating the tail wind in its recovery,? said Uwe Mark Ruttke of Merrill Lynch, the top financial advisor in Colorado.
?The stock market is one of those things that looks better the more expensive it gets,? said Barbara Marcin, portfolio manager of the Gabelli Dividend Growth Fund.
?The bond market, like every other market, is artificially overvalued because of the involvement of the Fed,? said Mohamed El?Erian of bond giant, PIMCO.
?Our clients used to think in weeks and days. Today, it?s not even hours-- they think in minutes,? said John Schutz of Wells Fargo, the largest financial advisor in Minnesota, with $1.2 billion in assets.
?I figured it was just as easy to hear ?no? from someone who?s wealthy as from someone who is not wealthy,? said Steve Lockshin of Convergent Wealth, the largest independent financial advisor in California, with $10.5 billion in assets.
?Interest rates are to investments what gravity is to physics,? said Oracle of Omaha, Warren Buffett.
?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 plaguing the market,?
said legendary hedge fund manager and chairman of Wisdom Tree Investments, Michael Steinhardt.
