?The Fed only knows two speeds; too fast, and too slow,? said Nobel Prize winning economist Milton Friedman to me over lunch one day.
?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.
?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.
?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.
?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
?Banks make money on a big fat yield spread. The Fed is killing that,? said Michael Pento of Pento Portfolio Strategies.
?When it comes to reputational risk, the banks can?t really fall off the floor,? said Bart Naylor, a consumer advocate.
?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 in gold,? said a leading hedge fund manager.
?If past history is all there was to the game, the richest people would be librarians,? said Oracle of Omaha, Warren Buffett.
?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.
