Hedge Fund Quotes

• I don't think that hedge funds are bad per se. I think they're just one more financial tool. And in that sense, they're useful.

  Barack Obama

  Thinking, Tools, Financial

  "NBC Nightly News with Brian Williams", www.nbcnews.com. September 17, 2007.

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• The number-one job of the hedge-fund manager is not to make sure that you can retire with a smile on your face - it's for him to retire with a smile on his face.

  Mark Cuban

  Smile, Jobs, Selfish

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• The Fed is the greatest hedge fund in history.

  Warren Buffett

  Feds, Fund

  "If You Don’t Believe We’re Already Back on a Gold Standard, Think Again" by Max Keiser, www.huffingtonpost.com. September 24, 2013.

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• Successful hedge funds will be entrepreneurial; it is the essence of the craft.

  Paul Singer

  Successful, Essence, Crafts

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• Hedge funds are a very efficient way of managing money. But there are clearly some risks. Hedge funds use credit and credit is a source of instability. Transactions involving credit should be regulated.

  George Soros

  Risk, Use, Credit

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• Look at those hedge funds - you think they can wait? They don't know how to wait! I have sat for years at a time with $10 to $12 million in treasuries or municipals, just waiting, waiting...As Jesse Livermore said, 'The big money is not in the buying and selling...but in the waiting.'

  Charlie Munger

  Thinking, Years, Waiting

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• The risks facing hedge funds are non-linear and more complex than those facing traditional asset classessuch risks are currently not widely appreciated or well-understood

  Andrew Lo

  Risk, Appreciated, Linear

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• Art is a form of asset. Hedge-fund managers who have made money fast should diversify into other areas.

  Michael Steinhardt

  Art, Assets, Form

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• As for another profession ... I suppose I'd manage a global-macro hedge fund. I love that kind of stuff. Weird, I know, but I find it fascinating.

  Nicholas Sparks

  Stuff, Kind, Macro

  Source: www.washingtonpost.com

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• If I had to sum up my practical skills, I would use one word: survival. And operating a hedge fund utilized my training in survival to the fullest.

  George Soros

  Skills, Survival, Training

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• Hedge funds are investment pools that are relatively unconstrained in what they do. They are relatively unregulated (for now), charge very high fees, will not necessarily give you your money back when you want it, and will generally not tell you what they do. They are supposed to make money all the time, and when they fail at this, their investors redeem and go to someone else who has recently been making money. Every three or four years they deliver a one-in-a-hundred year flood. They are generally run for rich people in Geneva, Switzerland, by rich people in Greenwich, Connecticut.

  Cliff Asness

  Running, Years, People

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• Wall Street, with its army of brokers, analysts, and advisers funneling trillions of dollars into mutual funds, hedge funds, and private equity funds, is an elaborate fraud.

  Michael Lewis

  Wall, Army, Dollars

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• We conclude that hedge funds are far riskier and provide much lower returns than commonly supposed.

  Burton Malkiel

  Return, Investing, Fund

  "INVESTING : More risk, less return" by John F. Wasik, www.nytimes.com. November 13, 2004.

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• When a hedge-fund guy gets lucky because the market goes up, and he is going to make $200m, and you know $200 million, and he is going to pay almost no tax. I don't think that is a good thing for the country, and they are all supporting Jeb Bush and Hillary Clinton, all the hedge-fund guys. I don't want their support, because I'm totally self-funding my campaign.

  Donald Trump

  Country, Thinking, Self

  Source: www.economist.com

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• Here's what income and wealth inequality is about. Last year, the top 25 hedge fund managers made more than 24 billion, enough to pay the salaries of 425,000 public school teachers. This level of inequality is neither moral or sustainable

  Bernie Sanders

  Teacher, School, Years

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• Our economy is a plantation run for the aristocrats - the CEOs, hedge funds, private equity firms - while the field hands are left with the scraps.

  Bill Moyers

  Running, Hands, Fields

  Source: progressive.org

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• I can't figure out why anyone invests in active management, so asking me about hedge funds is just an extreme version of the same question. Since I think everything is appropriately priced, my advice would be to avoid high fees. So you can forget about hedge funds.

  Eugene Fama

  Thinking, Advice, Would Be

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• The underlying strategy of the Fed is to tell people, "Do you want your money to lose value in the bank, or do you want to put it in the stock market?" They're trying to push money into the stock market, into hedge funds, to temporarily bid up prices. Then, all of a sudden, the Fed can raise interest rates, let the stock market prices collapse and the people will lose even more in the stock market than they would have by the negative interest rates in the bank. So it's a pro-Wall Street financial engineering gimmick.

  Michael Hudson

  Wall, Engineering, People

  Source: www.counterpunch.org

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• There's something wrong when hedge fund managers pay lower tax rates than nurses or the truckers

  Lindsey Graham

  Nurse, Pay, Truckers

  Source: www.foxnews.com

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• Overwinding happens when hedge funds destroy companies by attempting to leverage derivatives against otherwise productive long-term assets.

  Douglas Rushkoff

  Long, Derivatives, Assets

  Douglas Rushkoff (2013). “Present Shock: When Everything Happens Now”, p.88, Penguin

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• You have hedge funds and people like that buying these assets to yield 15 or 20 percent, I mean, that's the buyer for these people that are trying to unload them.

  Warren Buffett

  Mean, Yield, People

  "Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime". Interview With Charlie Rose, www.cnbc.com. October 1, 2008.

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• There was a time traditionally - say, GM in the 1950s - it was trying to develop a consumer base that would be loyal and lasting and they were thinking in terms of an institution that would remain and grow and thrive in the society. By now, a lot of the investment firms - bankers, hedge funds - are perfectly happy to destroy what they're in and come out with huge, tremendous benefits. That's a new stage of capitalism.

  Noam Chomsky

  Thinking, Trying, Bankers

  "Chomsky: "The Business Elites... Are Instinctive Marxists"". Interview with Keane Bhatt, truth-out.org. November 19, 2010.

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• The hedge fund known as "Long Term Capital Management" collapsed last fall through overconfidence in its highly leveraged methods, despite I.Q.'s of its principals that must have averaged 160. Smart people aren't exempt from professional disasters from overconfidence. Often, they just run aground in the more difficult voyages they choose, relying on their self-appraisals that they have superior talents and methods.

  Charlie Munger

  Running, Smart, Fall

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• Yet another hedge fund manager explained Icelandic banking to me this way: you have a dog, and I have a cat. We agree that each is worth a billion dollars. You sell me the dog for a billion, and I sell you the cat for a billion. Now we are no longer pet owners but Icelandic banks, with a billion dollars in new assets.

  Michael Lewis

  Dog, Cat, Pet

  "Boomerang: Travels in the New Third World". Book by Michael Lewis, 2011.

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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, Financial

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