“What we really have to do is get back to fundamentals, and for most Americans that means working for a living and not investing for a living.” said Tom Barrack, CEO of Colony Capital, and a former principal of the Bass Group.
“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.
"Going to weddings and funerals is part of being a financial advisor," said Theresa Chacopulos of Wells Fargo Private Banking, the top-producing financial advisor in Arizona.
“People are investing with a rear-view mirror. Last year, you had people scared out of the market. Unfortunately, you are losing a generation of investors at a time when they ought to be thinking about buying high quality stocks,” said Hersh Cohen of Clearbridge Advisors.
“Risk control is the best route to loss avoidance. Risk avoidance, on the other hand, is likely to lead to return avoidance as well, said Howard Marks, founder of distressed debt giant, Oak Tree Capital Management.
“Apple is an electric utility now. People don’t want them changing the wall sockets. People will pay them not to change,” said Roger McNamee, cofounder of venture capitalist Elevation Partners.
“It’s a terrible mistake to own something, just because somebody else owns it, even if that other persona is Benjamin Graham, the head of investing,” said Oracle of Omaha, Warren Buffett.
“Those who expect double digit returns going forwards are going to be severely disappointed,” said Bill Gross, CEO of bond giant, PIMCO.
“In the last 40 years, our record at predicting where we would use military force next is perfect. We’ve never once gotten it right,” said former Secretary of Defense Robert Gates.
“If the yen goes to ¥150, what does Toyota do to Ford,” said Barry Sternlicht, CEO of the private equity firm, Starwood Capital.
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