?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.
?I know not with what weapons World War III will be fought, but World War IV will be fought with sticks and stones,? said Nobel Prize winner Albert Einstein.
?I think this is about Russia reasserting itself on the international stage, basically saying that Russia is back and is a force to be reckoned with.? I think we underestimated for a long time the extent of the humiliation that Russians felt after the collapse of the Soviet Union,? said former Secretary of Defense and CIA head Robert M. Gates.
?If you want to be an economist on Wall Street, here?s a tip. If weekly jobless claims don?t go up, nothing bad is happening,? said Drew Matus, chief economist at UBS.
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