Leon Black Quotes

Investing is a business where you can look very silly for a long period of time before you are proven right.

Look, I think if you've got a niche portfolio or just operating in one country, like the United States, your ability to absorb the volatility is much less.

The potential rewards of small-cap investing do not come without risk.

I have plenty of investments that I wish I'd never made. But the model is to lose money on a lot of investments and then make 1,000X or 10,000X on an investment.

There is no safe haven in today's markets.

As a rule, bond funds will not double your money overnight.

The investor of today does not profit from yesterday's growth.

I invested in many companies, and I'm happy this one worked. This is capitalism. You invest in stock, it goes up, it goes down. You know, if you don't like capitalism, you don't like making money with stock, move to Cuba or China.

The last thing you want to do, unless it's a very unusual situation, is to invest money.

The government can’t guarantee that you should earn profit from your investments.

I've learned that all investments have risk.

In some industries, we refer to risk taking as 'research and development.' At financial institutions, we often take risk by investing in securities.

Well, there's always risk in long-term investment.

Just because a company's future is highly uncertain doesn't mean an investment in it is risky. In fact, some of the best potential investments are highly uncertain but have little risk of permanent capital loss.

I think it is crucial to diversify one's portfolio.

Market risk is like taking a plunge into a cool pool ... a lot of people are finding out right now what their risk tolerance is.

There is no such thing as high returns without risk.

You could lose hundreds or thousands one day on paper and gain it all back the next, and it has literally no effect on your immediate future, provided the money you have in the market is money you're investing for the long haul (meaning at least three to five years).

The markets don't like instability and they don't like uncertainty.

Investors need to get rewarded for their investment, especially in unstable countries.

When you're public, you're at the mercy of the markets. You can be doing extremely well, but if the markets are in the tank or your industry is in the tank, you don't get rewarded for it.

Do we have to regulate derivatives? Yes, we do. 'Cause when I did this in my investments, frankly, no one knew who could pay who. But derivatives have an important place in our economy.

Both cheap value stocks and more glamorous growth stocks can work well in a portfolio - if done right.

There's a tendency to look at investments in isolation. Investors focus on the risk of individual securities.

I'm not a money manager, but I can tell you what the conventional wisdom is. The younger you are, the more risk you can take on.