Money and Finance
- Bill Ackman On Hiring...
An interesting answer from his interview with Graham & Doddsville:G&D: You mentioned some of the larger private equity firms as being places where you look for talent. Do you have a preference for people who have looked at businesses on the private...
- Jamie Mai Quote
This an excerpt from the book Hedge Fund Market Wizards. The bold font is Jack Schwager’s remarks and the non-bold font is Jamie Mai’s comments. This isn’t exactly how it appeared in the book, as certain paragraph breaks and italics were omitted...
- More Ray Dalio Quotes
More Ray Dalio quotes from Jack Schwager’s book Hedge Fund Market Wizards. I think the last couple of long paragraph quotes below are especially important in regards to the current situation in the U.S. “We don’t use stops. We trade approximately...
- Bridgewater/dalio Approach
Short description using a few excerpts from Jack Schwager’s book Hedge Fund Market Wizards: “The flagship fund uses the relatively rare combination of a fundamentally based systematic approach. (Most hedge funds that are fundamentally based use a...
- Rick Bookstaber: Common Sense Crisis Risk Management
Found via Simoleon Sense. Unfortunately, although we can hope that this sort of information will end up with those regulating the markets, it is beyond the realm of anyone in the private sector. But here are a few common sense things we know about the...
Money and Finance
Colm O’Shea quotes
A few quotes from the book Hedge Fund Market Wizards by Jack Schwager, from his interview with Colm O’Shea:
“I turned bearish when money market liquidity dried up in August 2007. Declining housing prices [2006] were the impending storm clouds, but it started raining when money markets stopped working. Most people, however, didn’t notice. Fundamentals are not about forecasting the weather for tomorrow, but rather noticing that it is raining today.”
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“The great trades don’t require predictions. The Soros trade of going short the pound in 1992 was based on something that had already happened—an ongoing deep recession that made it inevitable that the U.K. would not maintain the high interest rates required by remaining in the ERM. Afterward, everyone said, “That was incredibly obvious.” Most of the great trades are incredibly obvious.”
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“Equity markets would eventually notice, but being short equities is a hard trade because they might still keep going up for a long time. After a bull market that goes on for years, who is managing most of the money?..... Because the bulls control most of the money, you should expect the transition to a bear market to be quite slow, but then for the move to be enormous when the turn does happen.”
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“I think implementation is the key in everything. Implementation is more important than the trade idea behind it. Having a beautiful idea doesn’t get you very far if you don’t do it the right way.”
- Bill Ackman On Hiring...
An interesting answer from his interview with Graham & Doddsville:G&D: You mentioned some of the larger private equity firms as being places where you look for talent. Do you have a preference for people who have looked at businesses on the private...
- Jamie Mai Quote
This an excerpt from the book Hedge Fund Market Wizards. The bold font is Jack Schwager’s remarks and the non-bold font is Jamie Mai’s comments. This isn’t exactly how it appeared in the book, as certain paragraph breaks and italics were omitted...
- More Ray Dalio Quotes
More Ray Dalio quotes from Jack Schwager’s book Hedge Fund Market Wizards. I think the last couple of long paragraph quotes below are especially important in regards to the current situation in the U.S. “We don’t use stops. We trade approximately...
- Bridgewater/dalio Approach
Short description using a few excerpts from Jack Schwager’s book Hedge Fund Market Wizards: “The flagship fund uses the relatively rare combination of a fundamentally based systematic approach. (Most hedge funds that are fundamentally based use a...
- Rick Bookstaber: Common Sense Crisis Risk Management
Found via Simoleon Sense. Unfortunately, although we can hope that this sort of information will end up with those regulating the markets, it is beyond the realm of anyone in the private sector. But here are a few common sense things we know about the...