“From coast to coast, the FBI and Securities and Exchange Commission have ensnared people not only at hedge funds, but at technology and pharmaceutical companies, consulting and law firms, government agencies, and even a major stock exchange.” PeopleGovernmentLawCompanyTechnologySecurityMajorsFirmAgencyFundCoastFbiConsultingPharmaceuticalStock ExchangeHedge FundGovernment AgenciesLaw FirmsPharmaceutical Companies Author:Preet Bharara
“There's something wrong when hedge fund managers pay lower tax rates than nurses or the truckers” PayTaxesRateManagersFundNurseHedge FundTruckers Author:Lindsey Graham
“If we're talking about buying exchanges abroad, we have to have global securities standards, as we have global banking regulations. I'm talking about margins. Now, the United States has certain margin requirements that are not the same in London. Investors and hedge funds that want to borrow more money against securities ? if they can't in the U.S., they go abroad. That could add additional risks to the global economy.” IfsWantStatesCertainUnitedTalkingUnited StatesEconomyRiskSecurityStandardsAddLondonBuyingFundInvestorsRegulationMore MoneyRequirementsBankingMarginsGlobal EconomyHedge Fund Author:Muriel Siebert
“Prosperity can't be just for CEOs and hedge fund managers. Democracy can't be just for billionaires and corporations. Prosperity and democracy are part of your basic bargain, too.” DemocracyProsperityManagersCorporationsFundCeoBargainsBillionaireHedge Fund Author:Hillary Clinton
“Art is a form of asset. Hedge-fund managers who have made money fast should diversify into other areas.” ShouldArtMadeFormArt IsAreasManagersFundAssetsHedge Fund Author:Michael Steinhardt
“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.” KnowsKindStuffProfessionManageFascinatingFundMacroHedge Fund Author:Nicholas Sparks
“A file-sharing service and a hedge fund are essentially the same things. In both cases, there's this idea that whoever has the biggest computer can analyze everyone else to their advantage and concentrate wealth and power. It's shrinking the overall economy. I think it's the mistake of our age.” ThinkingIdeasAgeWealthMistakeCasesEconomyComputerAdvantageFundFilesShrinkingHedge FundFile Sharing Author:Jaron Lanier
“Private-equity and hedge-fund guys typically come into a situation of mediocrity, where rapid change may result in a profit.” MayGuyResultsSituationProfitFundMediocrityEquityRapidsHedge FundPrivate EquityRapid Change Author:Austin Ligon
“I don't like writing straight-up thrillers. I like writing about families hurled into crisis and danger - soccer moms and regular dads and husbands who might have to rescue their daughters or who are, say, hedge fund managers and have one foot on the sidelines watching their kids and the other in nefarious cover-ups and conspiracies.” WritingMightKidsMotherFeetDangerMomDadHusbandDaughterCrisisManagersSoccerFundConspiracyRescueThrillersAbout FamilyCover UpsSidelinesStraight UpHedge FundSoccer Mom Author:Andrew Gross
“I think the idea that the hedge fund manager gets lower taxes than the taxi driver or the physics professor is insane. The legislators who leave that policy in place are derelict in their duties to be rational and fair. There are plenty of them in both political parties. It's totally outrageous.” ThinkingIdeasPoliticalPartyPolicyDutyTaxesFairsPhysicsRationalInsanePlentyManagersFundDriversProfessorsPolitical PartiesOutrageousTaxiLegislatorsHedge FundDerelict Author:Charlie Munger
“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.” ThinkingI CanWould BeForgetAdviceFiguresAskingManagementInvestingExtremesActiveVersionsFundFeesHedge FundActive Management Author:Eugene Fama
“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.” StreetsWallArmyDollarsInvestingFundMutualFraudEquityAnalystsAdviserBrokersMutual FundHedge FundPrivate Equity Author:Michael Lewis
“We conclude that hedge funds are far riskier and provide much lower returns than commonly supposed.” ReturnInvestingFundHedge Fund Author:Burton Malkiel
“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.” WayShouldUseRiskSourceCreditFundEfficientInvolvingTransactionsInstabilityHedge Fund Author:George Soros
“There used to be corporations that produced products. Now there are just banks that produce deals, hedge-fund-driven banks and derivatives and those things.” UsedDealsProduceProductsDrivenUsed To BeCorporationsFundDerivativesHedge Fund Author:Cornel West
“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.” ThinkingToolsFinancialJust OneFundHedge Fund Author:Barack Obama
“When people ask me what I do for a living, I generally tell them 'I run a hedge fund.' The majority give me a strange look, so I quickly add, 'I am a money manager.' When the strange look persists, as it often does, I correct it to simply, 'I'm an investor.' Everyone knows what that is.” PeopleKnowsGivingLooksDoeRunningAsksStrangeGive MeMajorityAddManagersAsk MeFundInvestorsPersistHedge Fund Author:David Einhorn
“Successful hedge funds will be entrepreneurial; it is the essence of the craft.” SuccessfulEssenceCraftsFundEntrepreneurialHedge Fund Author:Paul Singer
“It's quite astonishing how much money people make in the hedge fund business and in the private equity field, and how well-off affluent families really are.” PeopleWellsFieldsFundEquityAstonishingAffluentHedge FundPrivate Equity Author:Kenneth Rogoff
“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” YearsMadeEnoughSchoolLastsWealthLevelsPayMoralTeacherBillionsIncomeInequalityManagersFundLast YearPublic SchoolSalarySchool TeachersHedge FundWealth Inequality Author:Bernie Sanders
“People think that the art market is about opportunists and hedge-fund managers getting broken art, but what really happened is that there was a new configuration of bourgeois values in the U.S. and an acceptance among the bourgeoisie of contemporary art as an idea. I think that bourgeois people are horrible.” PeopleThinkingArtIdeasValuesHappenedAcceptanceBrokenHorribleContemporaryManagersFundBourgeoisBourgeoisieContemporary ArtOpportunistConfigurationHedge Fund Author:Liam Gillick
“LTCM lost money when Russia defaulted on a certain class of bonds, and then they had other investments like on the spread between two different kinds of shares of Royal Dutch Shell Oil Company. Now that seems completely unrelated to Russian bonds. But they were related because other hedge funds saw similar discrepancies and they were all making similar bets.” KindTwoDifferentSeemsCertainLostCompanyClassSawsShareInvestmentSpreadOilRussiaRelatedFundDifferent KindsShellsRoyalDutchOil CompaniesDiscrepanciesHedge FundLost Money Author:Richard Thaler
“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.'” ThinkingKnowsYearsLooksSaidBigsWaitingMillionsKnow HowSellingSatBuyingFundTreasuryHedge FundBuying And Selling Author:Charlie Munger
“I've heard that one-half of the students at elite schools want to go into private equity or hedge funds. They want to keep up with their age cohorts at Goldman. This can't possibly end well in terms of meeting these expectations.” WantWellsEndsAgeSchoolTermHalfHeardStudentsExpectationsMeetingsFundElitesEquityOne HalfHedge FundPrivate Equity Author:Charlie Munger
“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.” PeopleLongSelfRunningLastsFallDifficultTermKnownTalentSmartManagementMethodDisasterSuperiorsDespiteLong TermFundPrincipalVoyagesSmart PeopleAppraisalHedge FundOverconfidence Author:Charlie Munger
“It's my guess that something like 5% of GDP goes to money management and itsattendant friction. I define it broadly - annuities, incentive pay, all trading, etc. Nobody else has used figures that high, but that's my guess. Worst of all, the people doing this are among the best and the brightest. Hundreds and thousands of engineers, etc. are going into hedge funds and investment banking. That is not an intelligent allocation of the brainpower of the civilization.” PeopleUsedPayWorstFiguresCivilizationIntelligentManagementInvestmentEtcFundEngineersTradingBankingIncentivesFrictionMoney ManagementGdpAllocationHedge FundInvestment Banking Author:Charlie Munger
“Google the phrase "the most hated man in America." And this guy is one of the first people to pop up. Martin Shkreli, aka Pharma Bro, a 32-year-old drug company entrepreneur and former hedge fund manager who has a lot of money and loves to talk about how he spends it.” PeopleMenYearsFirstsAmericaGuyCompanyDrugAnd LoveEntrepreneurPopsFormerManagersHatedPhrasesFundLots Of MoneyGoogleThis GuyBrosHedge FundLove And MoneyDrug CompaniesAka Author:Joy-Ann Reid
“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.” ThinkingTryingWould BeGrowsTermStageHugeBenefitsCapitalismInstitutionsInvestmentConsumersFirmThriveFundLastingLoyalBankersHedge Fund Author:Noam Chomsky
“Some PhD physicists write software or work for hedge funds, but physics still has a problem with having very smart people but not enough opportunities.” PeopleWritingStillsEnoughProblemOpportunitySmartPhysicsFundSoftwarePhysicistSmart PeopleVery SmartPhdsHedge Fund Author:Stuart J. Russell
“What I want people to know is I went to Wall Street before the crash. I was the one saying you're going to wreck the economy because of these shenanigans with mortgages. I called to end the carried interest loophole that hedge fund managers enjoy. I proposed changes in CEO compensation.” PeopleKnowsWantEndsEnjoyInterestEconomyStreetsWallManagersFundCrashCeoCompensationWrecksMortgageLoopholesHedge FundShenanigans Author:Hillary Clinton
“Today, you've got hedge fund billionaires aligned with Karl Rove, running ads against me to try to get Democrats to vote for you [Bernie Sanders]. I know this game. I'm going to stop this game.” KnowsTryingRunningTodayGamesVoteDemocratFundAdsBillionaireHedge Fund Author:Hillary Clinton
“Banks don't want certain asset classes, and that's created opportunities for private equity, hedge funds, Silicon Valley. In this case I think he was referring to some of the European banks shedding assets, and the big buyers are probably not going to be big American banks. Someone like Blackstone may have a very good chance to buy those assets, leverage them, borrow up a little bit, and do something good there.” ThinkingWantMayLittlesBigsCertainOpportunityBitsChanceClassCasesLittle BitVery GoodFundAssetsValleysEquityReferringSiliconBuyersSilicon ValleyGood ChanceHedge FundPrivate Equity Author:Jamie Dimon
“The global financial system consists of firms in the financial services sector - banks, hedge funds, insurance companies and the like - and various governmental agencies who are charged with regulating these firms.” CompanyFinancialVariousFirmAgencyFundInsurance CompaniesFinancial SystemHedge FundFinancial Services Author:John L. Casti
“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.” PeopleWantTryingValuesInterestLosesStreetsWallNegativeRaisesStrategyRateFinancialFundFedsEngineeringCollapseInterest RateGimmicksHedge Fund Author:Michael Hudson
“Especially from my experience as a quant in a hedge fund - I naively went in there thinking that I would be making the market more efficient and then was like, oh my God, I'm part of this terrible system that is blowing up the world's economy, and I don't want to be a part of that.” ThinkingWorldWantWould BeEconomyTerribleFundEfficientBlowing UpHedge Fund Author:Cathy O'Neil
“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.” PeopleTryingMeanPercentBuyingFundYieldAssetsBuyersHedge Fund Author:Warren Buffett
“The idea that it's smart to allow Wall Street firms, with this "too big to fail" imprimatur, to become hedge funds again - it's unconscionable. You're essentially saying we're going to take some elites in our society and let them roll the bones in the marketplace, and if it works out they get rich, and if it doesn't work out the taxpayer comes in again. That seems absolutely crazy to me. That seems to be where they're headed. I mean, maybe they're not and I'm wrong. Maybe they'll do sensible things. It's hard to know! There doesn't seem to be a plan.” IfsKnowsMeanIdeasHardBigsSeemsRichPlansFailingCrazyStreetsWallSmartWork OutBonesFirmOur SocietyFundSensibleElitesTaxpayersMarketplaceGet RichHedge Fund Author:Michael Lewis
“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.” HandsRunningLeftEconomyFieldsFirmFundCeoEquityScrapPlantationsHedge FundPrivate Equity Author:Bill Moyers
“We live in a global market and money's fungible and hedge fund private equity is looking for momentum plays, and there ain't no momentum plays in bonds, right? When the interest rates were spiking up or down, well they never really spike down they do spike up though. Something's got to happen, there's got to be motion, the dice has to be rolling on the board, and if it's not then they're not going to play because they're not going to get the adrenaline rush from looking at... you know, money markets fund interest rates or bond interests or whatever. It's got to be sexy.” IfsKnowsWellsPlayHappensInterestRateSexyBoardsFundRollingEquityMomentumAdrenalineDiceInterest RateHedge FundAdrenaline RushPrivate Equity Author:Kevin Kinsella
“You can't have bank holding companies acting as hedge funds. You can't have them taking a million-dollar pension plan for Joe Schmo the bus driver and treat it with the same risk appetite that you treat George Soros' pocket money. It's fundamentally ridiculous.” ActingCompanyMillionsPlansRiskTreatsDollarsRidiculousPocketsFundDriversBusAppetiteMillion DollarsPensionHedge FundBus DriverPension Plans Author:Shia LaBeouf
“Over the last 30 odd years, Democrats have moved to the right and the right has moved into the mental hospital. So what we have is one perfectly good party for hedge fund managers, credit card companies, banks, defense contractors, big agriculture and the pharmaceutical lobby... That's the Democrats. And they sit across the aisle from a small group of religious lunatics, flat-earthers and civil war re-enactors who mostly communicate by AM radio and call themselves the Republicans and who actually worry that Obama is a socialist. Socialist? He's not even a liberal.” YearsWarBigsLastsReligiousPartyCompanyWorryGroupsRepublicanMovedDemocratRadioCommunicateCreditDefenseCardsManagersOddCivil WarFundFlatsHospitalsAgricultureSocialistCredit CardAisleSmall GroupsPharmaceuticalContractorPerfectly GoodHedge FundGood Party Author:Bill Maher
“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.” IfsUseSkillsSurvivalTrainingInvestingPracticalsFundOne WordHedge FundPractical Skills Author:George Soros
“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.” JobsFacesNumbersGreedSmileSelfishManagersFundYour FaceRetiringSmile On Your FaceHedge Fund Author:Mark Cuban
“These 'masters of the universe' must be tamed in the interests of the ordinary families whose jobs and livelihoods are being put at risk. The Tories won't say anything about the current crisis as they are completely in the pockets of the hedge funds.” JobsUniverseInterestRiskMastersOrdinaryCrisisCurrentsPocketsFundSay AnythingLivelihoodTamedHedge Fund Author:Vince Cable
“Substantially fewer films will be produced over the next year or two. And a significant portion of the production costs of the reduced slate will be borne by hedge funds and other investment groups.” YearsTwoFilmNextGroupsCostInvestmentProductionsSignificantFundFewerPortionsNext YearSlateHedge Fund Author:Peter Bart
“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” WellsRiskUnderstoodComplexesTraditionalFundAssetsAppreciatedLinearHedge Fund Author:Andrew Lo
“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.” PeopleWantGivingYearsRunningThreeRichFourFailingHundredInvestmentMaking MoneyFundInvestorsPoolFour YearsFloodRich PeopleBack WhenFeesSwitzerlandGenevaConnecticutHedge FundGreenwich Author:Cliff Asness
“The free market is at its best when everybody works in a fish bowl and tells you their point of view The hedge funds and portfolio managers have a right to do this We've muted the analysts and their presence in the system.” ViewsFishesPoint Of ViewManagersFundBowlsFree MarketAnalystsPortfoliosHedge FundFish Bowls Author:Mario
“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.” WayDogCatAgreeSellsDollarsCorruptionBillionsManagersPetOwnersFundAssetsBankingScandalHedge Fund Author:Michael Lewis