James P. Gorman Quotes

We would be billionaires, but we took responsibility for Summa's failure.

People just expect you to show up, be a cartoon character of yourself, take your money and go home. But don't screw up to the point where you're gonna be out of the picture.

The statistics for investing in small businesses are such that the vast majority fail.

I told all of our original investors that they would lose their money for sure.

We sunk everything into it. It came close to going under several times.

Starting a business is risky. Half of all new businesses fail to experience a fifth anniversary. And everyone knows that you could lose all the money you've invested in your new company and then some. Those are the obvious risks of trying to be an entrepreneur.

There's no excuse, it's just an opportunity that presented in a limited way and that happened and as soon as the press rang me I didn't deny it I just said 'that's it' and I had to go home and explain it.

If your business had no risk, you could go get a bank loan and call it a day. VCs like risks - without them, venture capital wouldn't exist. But they need to be risks that VCs are good at assessing and managing.

Any new producer starting up is to get investors' confidence. Investors are still very very wary of anything to do with the arts world.

Managers in all too many American companies do not achieve the desired results because nobody makes them do it.

In the investment business, you must expect to be wrong.

In modern business it is not the crook who is to be feared most, it is the honest man who doesn't know what he is doing.

While theoretically and technically television may be feasible, commercially and financially I consider it an impossibility.

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

I've learned that all investments have risk.

I don't think there is anything unusual about a business losing money in certain years.

When companies fail, shareholders bear the losses. It's just the way our system is supposed to work.

We all get into business, and we take a risk in terms of putting capital.

From our perspective, just narrowly from the financial sector and from our institution, there's nothing good about Brexit.

When you lose control of risk at a financial institution, you do a variety of unfortunate credit extensions or purchases - and all of a sudden, you've blown up your business.

I take risks, but I don't lose respect for my real self. Because what's going to happen afterwards? How are you going to get back? Is there going to be a train, or will it be after midnight and you can't go home again?

I lost a lot of money with sponsors.

I'm going to be direct with the players. If they don't like it, then I'm sorry.

We understand that you can't play all 82, trust me, with injuries and all that. But if you're feeling OK - a lot of people have been banged up, but if you're feeling OK, then you should play. That's what you get paid for. That's what fans deserve. The fans definitely deserve that.

I experienced the year 2000 dot com crash and the 2008 financial crisis, and it almost wiped out the company.