"Everything is expensive now. Worries about the future can cause safe assets to become highly-priced...I call it the 'Titanic Effect.' When the Titanic was going down, people would pay a fortune for anything that floats. We may be in a Titanic situation now," said my buddy, Nobel Prize winner Robert Shiller.
"We've seen the S&P 500 drop 50% twice in the last two decades. That is the new normal," said Richard Kang of Emerging Global Advisors.
"Though the preachers of pessimism prattle endlessly about America's problems, I've never seen one who wishes to emigrate (though I can think of a few for whom I would happily buy a one-way ticket)," said Oracle of Omaha Warren Buffett.
"Traders are very good at looking at the second hand on the clock, but not so good with the hour hand," said Gene Munster of venture capital firm Loup Ventures.
"By historic, fundamental measures, stocks are extremely high. PE multiples are at 100-year highs. But if you look at stock prices relative to interest rates, they are exactly where they should be," said hedge fund legend, Stanley Druckenmiller.
"Every smart guy is tempted by leverage, and some are broken by it," said Oracle of Omaha Warren Buffett.
"Technology is going to be stealing market capitalization from other industries for the next ten years," said Gene Munster of Silicon Valley venture capital firm Loup Ventures.
Quote of the Day
"A lasting relationship with a woman is only possible if you are a business failure," said John Paul Getty, a Morgan Stanley billionaire client who was married five times.
"Success is the ability to go from one failure to another with no loss in enthusiasm," said the wartime British Prime Minister, Winston Churchill.
"If a cluttered desk is a sign of a cluttered mind, what is an empty desk a sign of?" asked Albert Einstein.
