Jerry Yang Quotes

The starting point of my career in money management in 1973-74 was the time of the only true bear market any living non-Japanese investor has seen in major markets. Equities, real estate, you name it, everyone got run over.

Alas, in 1929 came the Stock Market crash and everything changed and became worrisome. People started practicing conservatism because of financial losses, myself included.

Minnesotans lost their jobs because the credit rating agencies didn't do the only job they're supposed to have, the only job they had, which is to give accurate, objective ratings to financial products.

By March '87 we're down to seven thousand, by the end of the year we're down to twelve hundred. The whole bottom just fell out of the market. It was bad for me because I was in Australia at the time.

Now, people when I say that look at me and say, 'What are you talking about, Joe? You're telling me we have to go spend money to keep from going bankrupt?'. The answer is yes, that's what I'm telling you.

A recession is when a neighbor loses his job. A depression is when you lose yours. And recovery is when Jimmy Carter loses his.

The stock market crash in October 1929 didn't destroy a particularly large amount of wealth or make people highly pessimistic. Rather, it made companies and consumers very unsure about future income, and so led them to stop spending as they waited for more information.

During the desperate depression of the 1980s, there were no oil and gas companies without net operating losses.

When there is a situation where one does not see demand for a year or two, then capex is suspended. It will reverse only when the situation improves.

I could never gamble on stocks and shares because I saw my father get hurt that way - he lost quite a lot of money when the stock market collapsed in 2001.

We have some worse scenarios for which we need to prepare as companies. For the moment, we're planning for the worst, and the worst is now, and the car market is down more than 15 percent in France. There is so much uncertainty.

The attacks on the World Trade Center and the current economic recession, which is particularly powerful in New York City, have put a number of building plans on hold for the time being.

In 2008, people who invested in hedge funds needed capital badly, but many of the funds would not return their money. However, I gave money back to any investor who requested it. It was the bottom of the market and a pretty tough time.

When does money run out of time? The countdown begins when investable assets pose too much risk for too little return; when lenders desert credit markets for other alternatives such as cash or real assets.

How much would you pay to avoid a second Depression?

The year 1983 was crazy. People wanted to sell not only their investments... but also their companies.

We have hardly enough money to last till the end of March.

An economic recession—even when it is of long duration—does not necessarily involve a decline in all trades.

As homeowners see the value of their homes decline, they become more likely to delay purchases of the big items - like automobiles, electronics and home appliances - that are ballasts of the American economy. When those purchases decline, large manufacturing firms, suddenly short on funds, could begin laying off employees.

The way you create deflation is you create an asset bubble.

When my book 'Rich Dad's Prophecy' was released in 2002, most financial newspapers and magazines trashed it because I discussed a looming stock market crash.

People aren't as impressed by homes anymore after they saw how they collapsed in price with the financial crisis.

Every serious deflation I've looked at is preceded by an asset bubble, and then it bursts.

Well, 2009 was a tough year.

NASCAR is not immune to the down economy.