?I?m not in favor of breaking up the large banks. But if push comes to shove and there is no other way to eliminate the ?too big to fail? problem, which is getting worse, and not better, I would be in favor of breaking up the big banks,? said former Federal Reserve chairman, Alan Greenspan.
?We underestimated the negative impact of the slowdown in the housing market, and we may be underestimating the tail wind in its recovery,? said Uwe Mark Ruttke of Merrill Lynch, the top financial advisor in Colorado.
?For the first time in history, more people will die from eating too much food this year than not enough food, said my old friend and mayor of New York, Michael Bloomberg, about his recent attempt to ban 16 ounce soft drinks in the city.
?The stock market is one of those things that looks better the more expensive it gets,? said Barbara Marcin, portfolio manager of the Gabelli Dividend Growth Fund.
?The bond market, like every other market, is artificially overvalued because of the involvement of the Fed,? said Mohamed El?Erian of bond giant, PIMCO.
?Our clients used to think in weeks and days. Today, it?s not even hours-- they think in minutes,? said John Schutz of Wells Fargo, the largest financial advisor in Minnesota, with $1.2 billion in assets.
?I figured it was just as easy to hear ?no? from someone who?s wealthy as from someone who is not wealthy,? said Steve Lockshin of Convergent Wealth, the largest independent financial advisor in California, with $10.5 billion in assets.
?Interest rates are to investments what gravity is to physics,? said Oracle of Omaha, Warren Buffett.
?China thinks strategically. We think reactively,? said Stephen Roach, former chairman of Morgan Stanley Asia, and my friend and former mentor.
?One must marvel at where the stock market is in relation to the rest of our world. With the economy in relation to the politics, it?s not a happy time. If you look at how they were viewing Obama just before the election, we?ve just walked through the raindrops in regards to the stock market with the fiscal cliff, the debt ceiling crisis, and all sorts of other issues that were plaguing the market,?
said legendary hedge fund manager and chairman of Wisdom Tree Investments, Michael Steinhardt.
