Quotes About Finance

Investment bubbles and high animal spirits do not materialize out of thin air. They need extremely favorable economic fundamentals together with free and easy, cheap credit, and they need it for at least two or three years. Importantly, they also need serial pleasant surprises in such critical variables as global GNP growth.

The way that customers pay businesses is constantly evolving. Instead of paying with paper, like cash and checks, businesses are expected to accept a variety of payment methods ranging from credit cards to digital payments.

Hedge fund managers charge so much more than mutual fund managers; alpha is even harder to come by. They end up selling a variety of things beyond mere outperformance.

Secured debentures of the non-convertible variety were the rage in the mid-1980s, but their glamour ended on their maturity when it became obvious that there was nothing secured about them.

The restructuring theme can be of various kinds. Some amount of debt gets serviced out of cash flows, some gets back-ended and resolved with sale of non-core assets of the company, and some debt gets converted into equity which might today look like a haircut.

The vast sums of money that are coming in at the top end of the game are stretching the rest of the sides to try to get as much benefit out of what finance they've got and get the best players they can find for that finance.

My dad had always bought and sold gold and other stuff. In '81, he went broke because of real estate, so he moved us to Vegas and opened a small second-hand store. We always wanted a pawn license because there's a lot more money in that.

It is not easy to get rich in Las Vegas, at Churchill Downs, or at the local Merrill Lynch office.

When you're an actor who just got his first big chunk of change, and you're like, 'What do I do with it?' you try to look at Silicon Valley, and the learning curve is so huge. Especially on the investor side. I don't want to say it's like Vegas, in a sense, but you do kinda roll the dice on some companies. It's like educated dice rolling.

Fights are nice because I can hang with my girlfriend and not leave the house. Shows are nice because that's how I can afford $65 pay-per-view fights and to go to Vegas and see them live.

Alternatives to gold and currency and to make a big speculative vehicle - I never considered for one second having anything to do with it. I detested it the minute it had been raised.

The world needs another vehicle to get people to pay in cash.

There is nothing inevitable about this secret offshore world. It is not a fact of nature: Our laws created tax havens, and our laws can also end them. We could forbid Goldman Sachs from owning opaque offshore vehicles. We could prevent companies such as Cadre from accepting anonymous investments.

Shell companies can be owned by other shell companies; opaque offshore vehicles are carefully designed so that regulators can't identify who is using them; with the right accountants, they can be set up quickly and easily.

Even if you were to fall into extreme financial hardship and file for bankruptcy, you need to understand that your student loan debt will not be discharged in bankruptcy. It is the Velcro of all debts.

The issue is, you're not going to have a lot of inflation showing up when you have no velocity.

What people really haven't thought about with real estate is, if you get tax reform, you're going to see real estate now... the velocity of selling and buying real estate will just kick.

When you have no one to answer to, vendetta as investment strategy is as legitimate as anything.

Only institutions that go about the old-fashioned business of taking in deposits from customer A and lending them out to customer B should be called banks. The rest should call themselves what they are. 'Parlors' would be appropriate, or 'dens' - words more suitable to venerable betting pursuits.

In the perfect world, no one would need pre-nups. But all too often, a misty-eyed romancer at the altar transforms into a vengeful, avaricious fiscal predator when the marriage goes south.

You can invest in companies, you can help grow companies, you can be a venture capitalist - and be a philanthropist at the same time.

It is intellectually dishonest to lump venture investors with hedge fund and buy-out investors.

If I were to leave and raise a venture fund, I would have to find 10 or 100 LPs. They would all give me a bunch of money, and I would take a percentage of that to pay myself. They would expect me to invest that over the next three years, and they want that money back in seven or eight years.

With a regular venture fund, you raise, let's say, a billion dollars, and then over the next three or four years, you've got to invest that money; otherwise, the people who invested with you will say, 'What are you doing? You're just collecting fees on our money.'