'Nowadays, people know the price of everything and the value of nothing,' said Irish playwright, poet, and novelist, Oscar Wilde.
"Freedom of the press is only true if you own a press," said A.J. Liebling, a famed journalist for the New Yorker.
“The Fed only knows two speeds; too fast, and too slow,” said Nobel Prize-winning economist Milton Friedman to me over lunch one day.
“Wall Street denizens are always ready to suspend disbelief when dubious maneuvers are used to manufacture rising per-share earnings , particularly if these acrobatics producer mergers that generate huge fees for investment bankers,” said Oracle of Omaha, Warren Buffet.
When you look at the size of the US workforce over the next 30 years, it is going to increase by 30%. That compares to Japan, where it is going to be shrinking, Europe, where it is contracting, and even China, where it turns down. The idea that the baby boomers are going to overwhelm this huge growth in the workforce is a myth,” said Scott Minerd of money manager Guggenheim Partners.
“We are not going to get the returns in the next five years that we got over the last five years,” said Ed Keon, managing director of Quantitative Asset Management.
"We are about to do something terrible to you. We are going to deprive you of an enemy," Soviet commentator, Georgi Arbitov, told Secretary of State George Schultz at the end of the cold war.
“The money pouring out of the emerging markets is not bad for the US. We are the oasis in this situation,” said strategist Louis Navellier, of Navellier Associates.
"I wouldn't rush to come back from the beach this summer," said my buddy, Steve Weiss of Short Hills Capital Partners.
“Adaption is smarter than you are,” said economist Frederich Hayek.
