Financial Quotes - Page 39

• Financial operations do not lend themselves to innovation. What is recurrently so described and celebrated is, without exception, a small variation on an established design . . . The world of finance hails the invention of the wheel over and over again, often in a slightly more unstable version.

  John Kenneth Galbraith

  Design, Innovation, Variation

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• When it comes to being visionary in stealing, the Republicans do better than anybody. It's really something to see.

  Conan O'Brien

  Visionaries, Republican, Stealing

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• Markets will always move ahead of the news.

  Joseph Granville

  Moving, News, Skeptical

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• Honesty may not be the best policy, but it is worth trying once in a while.

  Richard M. Nixon

  Honesty, Trying, May

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• In one way, I'm sympathetic to the institutional reluctance to face the music. I'd give a lot to mark my weight to 'model' rather than to 'market.'

  Warren Buffett

  Giving, Weight, Way

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• The Federal Reserve was not founded to bail out Bear Stearns or a few hedge funds. It was founded to keep a stable currency and maintain its value.

  Jim Rogers

  Bail, Bears, Currency

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• There is a lot of pain still to be had in the equity markets, particularly aimed at the risky end of the spectrum. We think the fair value on the market is about a third lower in the U.S. . .

  Jeremy Grantham

  Pain, Thinking, Ends

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• Suddenly, the world is realizing that gold is still a safe haven asset. We've seen pretty substantial losses in equity markets. I think this is genuine safe-haven buying.

  James Moore

  Loss, Thinking, Safe Haven

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• If prices go down, we will have problems - problems in the sense of spillover to other areas.

  Alan Greenspan

  Problem, Said, Skeptical

  "Markets remain steady" by Fiona Walsh, www.theguardian.com. March 16, 2007.

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• Why is it possible to rescue S&L buccaneers in the early '90s and provide guidance to levered Wall Street investment bankers during the 1998 long-term capital management crisis, yet throw 2 million homeowners to the wolves in 2007?

  Bill Gross

  Wall, Long, Bankers

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• So perhaps the most worrying single remark made by a responsible banking official during the current crisis came from Jochen Sanio, the head of Germany's banking regulator BaFin. He warned on Aug. 1 that his country could be facing the worst banking crisis since 1931 - a reference to the collapse of Austria's Kredit Anstalt, which provoked a wave of bank failures across Europe.

  Martin Walker

  Country, Banking Crisis, Europe

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• Self-worth and financial worth become indistinguishable.

  Russell Peters

  Self Worth, Self, Culture

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• To state that the cost of proper medical care itself surpasses the financial resources of any of the countries in the West is of course ridiculous, not the least when one considers the other purposes for which money is freely being used and working hours spent.

  Karl Evang

  Country, Health, Care

  Karl Evang (1960). “Health service, society, and medicine: present day health services in their relation to medical science and social structures”

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• You have wondered, perhaps, why all real accountants wear hats? They are today's cowboys. As will you be. Riding the American range. Riding herd on the unending torrent of financial data. The eddies, cataracts, arranged variations, fractious minutiae. You order the data, shepherd it, direct its flow, lead it where it's needed ... You deal in facts, gentlemen, for which there has been a market since man first crept from the primeval slurry.

  David Foster Wallace

  Business, Real, Cowboy

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• If we are really serious about preventing another crisis like the 2008 meltdown we should simply ban complex financial instruments, unless they can be unambiguously shown to benefit society in the long run. This is what we do all the time with other products-drugs, cars, electrical products and many others.

  Ha-Joon Chang

  Running, Business, Long

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• I don't think there is a sound UK bank now, at least, if there is one I don't know about it. The City of London is finished, the financial centre of the world is moving east. All the money is in Asia. Why would it go back to the West? You don't need London.

  Jim Rogers

  Business, Moving, Thinking

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• Financial hydrogen bombs built on personal computers by 26-year-olds with MBAs.

  Felix Rohatyn

  Business, Years, Mba

  "They had parties, we got the hangover" by Ruth Sunderland, www.theguardian.com. June 6, 2009.

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• The Treasury's plan has little for those outside of the financial industry. It is aimed at rescuing the same financial institutions that created this crisis with the sloppy underwriting and reckless disregard for the risk they were creating, taking or passing on to others.

  Richard Shelby

  Business, Passing On, Creating

  "CNN Newsroom" with Heidi Collins, www.cnn.com. September 23, 2008.

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• In the past six months, our federal government has devised a dozen strategies to save America's financial markets. Each plan has been more costly, more risky, and less aligned with the principles of our country's free market economy than the last. I am disappointed to say that this latest plan puts all the rest of them to shame.

  Michael Enzi

  Country, Business, Past

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• Wall Street got drunk and now it's got a hangover. And the question is, how long will it sober up and not try to do those fancy financial instruments?

  George W. Bush

  Business, Wall, Hangover

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• It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade. The worst have failed; investors no longer fund them and are not likely to in the future.

  Alan Greenspan

  Business, Past, Derivatives

  "Taking Hard New Look at a Greenspan Legacy" by Peter S. Goodman, www.nytimes.com. October 8, 2008.

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• In our view, derivatives are financial weapons of mass destruction carrying dangers that, while latent, are potentially lethal.

  Warren Buffett

  Business, Mass Destruction, Views

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• Financial markets ... resent any kind of government interference but they hold a belief deep down that if conditions get really rough the authorities will step in.

  George Soros

  Business, Government, Steps

  George Soros (2000). “Open Society: Reforming Global Capitalism”, PublicAffairs

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• All these financiers, all the little gnomes of Zürich and the other financial centres, about whom we keep on hearing.

  Harold Wilson

  Business, Littles, Hearing

  'Hansard' 12 November 1956, col. 578

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• Market values are fixed only in part by balance sheets and income statements; much more by the hopes and fears of humanity; by greed, ambition, acts of God, invention, financial stress and strain, weather, discovery, fashion and numberless other causes impossible to be listed without omission.

  Gerald M. Loeb

  Fashion, Business, Stress

  Gerald M. Loeb (2007). “Battle for Investment Survival”, p.2, John Wiley & Sons

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