?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.
?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.
?It?s all artificial stimulation. The market wouldn?t be here without quantitative easing,? said a NYSE floor trader.
?The reality is that the iPhone 5 is going to do more for the economy than QE3,? said Kevin Warsh, a former Federal Reserve governor.
?The old yardsticks don?t seem to be working anymore,? said Art Cashin, a strategist at UBS.
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.
?Let all men know how empty and worthless is the power of kings,? said King Cnut, a 10th century ruler of Denmark and England.
?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.
?Inflation steals from savers, and inflation is the logical consequence of printing too much money,? said Oracle of Omaha, Warren Buffett.
?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.
