A Quote by Jerome Powell

Legislative reforms in the 1990s and the public/private structure led managements to expand the GSEs' balance sheets to enormous size, underpinned by wafer-thin slivers of capital, driving high shareholder returns and very high compensation for management.
The ideal business is one that earns very high returns on capital and that keeps using lots of capital at those high returns. That becomes a compounding machine.
When determining appropriate levels of compensation, management must determine if the employee turnover rate is too low, too high, or just right. If turnover rate is high enough to adversely impact the entity's performance, then employee compensation is probably too low.
U.S. capital formation, which has been pretty high in the '90s and very high in the late 1990s, is what is being financed by the savings of the rest of the world, generally poorer than ourselves, because our deficit on current account, chronic deficit, is their surplus, and they have been willingly bringing that to the American market.
As an investor with small capital, one should prefer businesses that have high returns on capital and that require little incremental investment to grow.
CEOs are also chief capital allocators. This is a point Warren Buffett has repeatedly made: that the role management plays in allocating capital across businesses and boosting returns on that capital is a critical yet poorly recognized one.
Northleaf is delighted to have been chosen to manage the new fund. We look forward to implementing the fund's long-term strategy of constructing a portfolio of high-potential venture capital funds with the scale and resources to execute their plans, support successful high-growth companies and deliver world-class returns.
If charter schools are not more successful on average than the public schools they replace, what is accomplished by demolishing public education? What is the rationale for authorizing for-profit charters or charter management organizations with high-paid executives, since their profits and high salaries are paid by taxpayers' dollars?
Throughout the industrial era, economists considered manufactured capital - money, factories, etc. - the principal factor in industrial production, and perceived natural capital as a marginal contributor. The exclusion of natural capital from balance sheets was an understandable omission. There was so much of it, it didn't seem worth counting.
In my early days, fashion was considered a very high risk industry. The failure rate is very high. Trying to get capital and trying to find people who specialize in that industry is very difficult too.
We are led by lawyers who do not understand either technology or balance sheets.
Sex is not the ultimate high, but the ultimate high hangs out around sex. The ultimate high is the dance with another person, played so deep down and with such abandon that glee returns to grown-ups.
I think the Australian people are very conscientious. During the 1980s and 1990s we proved they will respond conscientiously to necessary reforms. They mightn't like them but they'll accept them. But reforms have to be presented in a digestible format.
Private choices are not private; they all have public consequences...Our society is the sum total of what millions of individuals do in their private lives. That sum total of private behavior has worldwide public consequences of enormous magnitude. There are no completely private choices.
A tree trunk the size of a man grows from a blade as thin as a hair. A tower nine stories high is built from a small heap of earth.
In public, Barack Obama's giving the simple version of his beliefs for the mass public. In private, he can discuss it at a really high level.
Our model is to develop each business separately with its own shareholder and management - this way we can concentrate on the job in hand, rather than be part of some enormous and faceless conglomerate.
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