?Forget what you know about buying fair businesses at wonderful prices. Instead, buy wonderful business at fair prices,? said Oracle of Omaha, Warren Buffett.
?If you?re early on in your career, and they give you a choice between
a great mentor or higher pay, take the mentor every time. It?s not even close. And don?t even think about leaving that mentor until your learning curve peaks,? said legendary hedge fund trader Paul Tudor Jones.
?There is one thing that doesn?t diminish, and that is unintended consequences,? said legendary hedge fund trader Paul Tudor Jones.
?We?ve seen the S&P 500 drop 50% twice in the last 17 years. That is the new normal?, said Richard Kang of Emerging Global Advisors.
?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.