Stephen A. Schwarzman Quotes

Some of my best friends are Venture Capitalists, but let's face it, a hamster with Alzheimer's could make those kind of numbers. It's great work if you can get it.

Hedge funds try to produce above-average investment returns using tactics ranging from traditional stock-picking to complex derivative and arbitrage plays. High minimum investments, redemption restrictions and aggressive strategies make them suitable mainly for more sophisticated and well-heeled investors.

Successful hedge funds will be entrepreneurial; it is the essence of the craft.

Guys like me on the investor side are a dime a dozen.

Hedge funds are other hedge funds' toughest competition. And there are just more of them, and it's tougher and tougher all along.

Entrepreneurs or international conglomerateurs, or large financial institutions buy or create mutual fund management companies to create a return on their own capital. It's capitalism at work, where the rewards tend to go to the managers rather than the investors.

If (investing) weren't a little difficult, everybody would be rich.

Mutual funds give people the sense that they're investing with the big boys and that they're really not at a disadvantage entering the stock market.

Maybe we should teach schoolchildren probability theory and investment risk management.

A financial crisis is a great time for professional investors and a horrible time for average ones.

Pension funds, endowments, and private investors trust Mitt Romney's former company Bain Capital enough to hand it billions of dollars in assets.

Given the typical fee structures of hedge funds, they need to do something different to make money in a consistent way.

Whether a tops-down or bottoms-up investor in bonds, stocks, or private equity, the standard analysis tends to judge an investor or his firm on the basis of how the bullish or bearish aspects of the cycle were managed.

Let's take a timeout. Let's allow investors the opportunity in a period of market calm to re-examine what's happened and to deploy new strategies into the marketplace.

What I find very interesting about the mutual funds managers is that here are people who are the new masters of the universe. They're managing billions, yet they're subject to this quiet daily tyranny of numbers.

Most of the money I make now comes from investments from CrunchFund. And the vast majority of that is what's called carried interest.

There's accountability in the mutual fund industry. And they've been tremendous engines of wealth for people and they're going to continue to be so.

If you think Wall Street has a short memory, you're dead wrong. No, the folks who work on Wall Street, regulate Wall Street - and, above all, invest in its wares, notably its hedge funds - don't have a bad memory. They don't have any memory at all.

Traditionally, we think that people with ideas are innovators - that Silicon Valley is the world of ideas. But within the hedge-fund world, they believe that they are men of ideas - that the trade is unto itself one of ideas.

My investment advice is rooted in my understanding of economics.

Many financial innovations such as the increased availability of low-cost mutual funds have improved opportunities for households to participate in asset markets and diversify their holdings.

There's so much disagreement about investing, and it's because nobody really knows.

When you're an actor who just got his first big chunk of change, and you're like, 'What do I do with it?' you try to look at Silicon Valley, and the learning curve is so huge. Especially on the investor side. I don't want to say it's like Vegas, in a sense, but you do kinda roll the dice on some companies. It's like educated dice rolling.

Remember that banks aren't markets. The market is amoral. The market doesn't care who you are. You're a trade to the market. The market will sell you if they think you're riskier.

I have millions of dollars, and I don't know finance. I've had some bad things happen in my career. I've got to educate myself. I sit down with my finance guy once a month and go over everything, line by line.