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.
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Quotes tagged ‘hedge funds’
Millions of years ago a meteor hit the earth and brought on an ice age and even the mightiest of T-Rexes were brought to skeletons.
— Brian Koppelman, David Levien, Bobby "Axe" Axelrod, Damian Lewis, imdb.com
The entire hedge fund industry is under siege. We deserve it. We've acted as if it would go on forever. Even the shitty returns, the outflow of institutional money and rise of quant-funds have lighted to way to our demise. We have wilfully refused to change.
— Brian Koppelman, David Levien, Bobby "Axe" Axelrod, Damian Lewis, imdb.com
The worst mistakes include not understanding other people as much as you might.
I think it's enjoyable to think about business or investment problems. They're easy. It's the human problems that are the tough ones. There's almost always a good answer with the money.
The chains of habit are too light to be felt until they're too heavy to be broken.
Rule #1: Never lose money Rule #2: Never forget Rule #1
He believed very much in having an inner scorecard and never worrying about what people thought about you.
I wanted to put on the walls, days of extreme panic in Wall Street. Just as a reminder that anything can happen in this world. Its instructive art.
There's no doubt in my mind, however, that the S&P 500 will do better than the great majority of professional managers achieve for their clients after fees.
The decentralized revolution, which Bitcoin has remained the poster child of, is a response to the breakdown of trust.
On the other hand, when I step back I'm like wait a minute, the whole market cap of all the cryptos is $300 billion dollars. That's nothing. The NASDAQ at its high in the 1999 bubble was $6 trillion.
It may lead to an equilibrium where the participant's views come to corrospend to the actual state of affairs.
The structure of the brain is another source of distortions.
The main source of difficulty is that participants are part of the situation they have to deal with. Confronted by reality of extereme complexity we are ablyged to various methods of simplification. Generalizations, metaphors, moral precepts to mention a few.
These distorted views can influence the situation to which they inflate. Because false views lead to inappropriate actions. That's the principle of reflexivity.
My conceptual framework enabled me to both anticipate the prices and deal with it when it finally struck. It has also enabled me to explain and predict events better than others.
2008, we are repeating it. It was a time of a financial crisis and a bear market. And you have the same condition today. But the source of the equilibreum is different. In 2008, the root cause was subprime crisis in America. Now the root cause is basically China.
Yale, Columbia, and Harvard are responsible for managing tens of billions of dollars and you can learn a thing or two on how they manage risk. Proof positive is Yale's outstanding performance - the college endowment earned over 20% during their fiscal year 2014, and what's more impressive is they ma…
No, I didn't expect that it would happen that quickly. A lot of that is the fact that the government back stopped the system.