Quotes About Securities

I've got a huge, huge position in mortgage-backed securities. I started accumulating them in 2009, when the market was really down and things were really scary.

Significant officials at publicly traded companies are casually and cavalierly engaged in insider trading. Because insider trading has as one of its elements communication, it doesn't take rocket science to realize it's nice to have the communication on tape.

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.

My parents worked as brokers at Oppenheimer securities. They managed to finagle me a job.

I make no attempt to forecast the general market -- my efforts are devoted to finding undervalued securities.

Most stocks bought and sold on Wall Street are held in what's called 'street name.'

During my undergraduate training at UCLA, I was studying finance and securities; my particular interest was with mutual funds. Wanting to get into a high position at some of the companies that were doing that, I knew that law would be useful.

Not all good works can turn a profit, but profits can be directed toward good. As Warren Buffett explains, "I've worked in an economy that rewards someone who saves the lives of others on a battlefield with a medal, rewards a great teacher with thank-you notes from parents, but rewards those who can detect the mispricing of securities with sums reaching into the billions.

Nowhere is historian George Santayana's famous dictum, "Those who cannot remember the past are condemned to repeat it," more applicable than in finance. Financial history provides us with invaluable wisdom about the nature of the capital markets and of returns on securities. Intelligent investors ignore this record at their peril. Risk

At this point, it's important to clarify the difference between bonds and stocks. A bond is simply a loan. Most often, bonds have a sharply limited upside: the best that you can do is collect your interest payments and principal at maturity. A share of stock, on the other hand, represents a claim on all of the future earnings of the company. As such, its upside is potentially unlimited. It

Treasury securities issued with a maturity of one year or less are called "bills"; from one to 10 years, "notes"; and over 10 years, "bonds." Notes and bonds yield an interest coupon every six months. Bills do not—rather, they are issued at a discount and redeemed at par; the difference is their "yield.")

write to Securities Research Company, 27 Wareham Street, #401, Boston, MA 02118, and purchase one of the company's long-term wall charts. Also, in 2008, Daily Graphs, Inc., created a 1900 to 2008 stock market wall chart that shows major market and economic events.

Street Advisors, a highly regarded research firm that concentrates on publicly traded real estate securities, routinely examines discrepancies between market price and fair value. The

Goldman Sachs and other investment banks understood the ensuing problem so well that they began betting against the very mortgage-backed securities they were underwriting!

Markowitz's ideas on stock diversification eventually became known as efficient market theory (EMT). This is the general concept that markets are efficiently pricing securities based on known information, and therefore a market portfolio is the most efficient portfolio.

Ever heard of collateralized debt obligations? Mortgage-backed securities? Non-bank asset-backed commercial paper? What about income trusts? Or even mutual funds?

We're going after the possibilities of tax fraud, insurance fraud, securities fraud. We're going to look at this stuff very closely. We have the jurisdiction, we have the resources, and we have the will.

Although the Internet makes it seem as if you have a direct connection to the securities market, you don't. Lines may clog; systems may break; orders may back-up.

Important New York banks realized that because bankers had hypothecated the Central Pacific's securities repeatedly, they were effectively worthless as collateral. It was better to strike a deal with the Central Pacific; otherwise the chain of debt would choke even more banks. Jay Gould scavenged the Union Pacific, saving it from bankruptcy and setting up what would eventually become one of his biggest financial killings.43

Once I really got into securities fraud prosecutions, I came to realize how central they were to the maintenance of a free market and how, in many ways, they are far more important to the welfare of our society than many of the more sensational criminal cases that one hears about.

In the United States, securities markets are much more developed than they are in Europe.

notably the 1999 repeal of the US Glass–Steagall Act – allowed commercial banks to become investment banks as well. In addition to investing their depositors' money, they became highly leveraged speculators in the newly developed securities

instead of investing in a mutual fund or public stock, the rich have invested via a private placement memorandum, also known as a 506 Reg D.

When someone shorts a stock, that literally means they are selling something they do not own.