My problem with the stock market is that I fail to see who the incremental buyer will be to take the S&P 500 to 1,500. It?s not going to be the retail investor who has been hit with a 34% drop in home prices, two market crashes in the last decade, and a flash crash while their incomes are not keeping up with inflation. The last thing on their minds right now is to buy stocks,? said Doug Kass of hedge fund Seabreeze Partners.
?The Bernanke put is still there, but it is far more out of the money that it was a few days ago,? said Doug Kass of hedge fund Seabreeze Partners.
?A statistical model built around a normal distribution when applied to markets can be a very dangerous thing,? said David Kelly of JP Morgan.
?Equities lead the risk appetite on the way up, and they will lead on the way down,? said Lincoln Ellis of the Linn Group
?It's very difficult to navigate a business through a paradigm shift. You must hard wire your system to second guess all the time, questioning what is next, and then what is next. You've got to retain optionality for both investment portfolios and the business your run to navigate this well,? said Mohamed El-Erian, co-chairman of the bond house PIMCO.
?The luckiest person in the world today is the baby being born in the United States. The outlook for this country is fantastic,? said Warren Buffet.
?Bankers will get away with whatever they can get away with. Our banking system is socially useless,? said an oversight body in the United Kingdom.
?When it?s raining gold, reach for a bucket, not a thimble,? said Oracle of Omaha Warren Buffet.
?Rupert Murdoch is very smart and is a great leader, but he?s made a mistake. He?s buried in ink, and in my view, there won?t be any newspaper business ten years from now. Fortunately, we?re buried in television and movies, and they?ll be here forever,? said Sumner Redstone, chairman of Viacom and CBS.
?To ask other people to be making sacrifices on taxes during this period, and we are going to ask them to make sacrifices on the revenue side and the expenditure side, and to leave the top income group alone, is a travesty,? said Berkshire Hathaway?s Warren Buffet.
