?We are now at the sunny side of central bank influence,? said my friend, Mohamed El-Erian.
?Economists say we?re having 2.5% growth. That?s a lie. The reality is that we have 5% growth for the top 20% of the economy, and 0% growth for the bottom 80% of the economy,? said Arthur Brooks, president of the American Enterprise Institute.
?I can calculate the motion of heavenly bodies, but never the madness of crowds,? said Sir Isaac Newton, the inventor of calculus and discoverer of Newton?s Laws, who lost his entire fortune in a 17th century investment scam called ?the South Sea Bubble.?
?Whenever I hear someone in finance say that a one in two billion year event just happened, I say that you just demonstrated you have a model for measuring tail risk that isn?t any good,? said former Treasury Secretary and Harvard University President Larry Summers.
?If we don?t visit disorder, disorder will visit us,? said Tom Friedman, my old buddy and columnist for the New York Times.
?The time to worry about the Fed is not when they go from accommodative to neutral, it is when they go from neutral to tight,? said Bill Miller the legendary former chairman and CIO of Legg Mason Capital Management.
?We?re in a secular bull market for the dollar. ?A strong dollar is a natural consequence of America emerging from a liquidity trap, while Europe and Japan are still stuck in one. The dollar is a growth stock, and growth stocks over time outperform utilities,? said Paul McCulley, formerly the chief economist at bond giant PIMCO.
?Betting on Janet Yellen is about as likely as Donald Trump being civil" said Boris Schlossberg, managing director of BK Asset Management.
?Just because we removed the word ?patient? doesn?t mean that we are going to be impatient,? said my friend, Federal Reserve Chairman Janet Yellen. That is pure Janet. I feel like I?m back at Berkeley.
?Good fortune is often more fatal than adversity,? said the 18th century German emperor, Frederick the Great.