A Quote by Charlie Munger

I've heard that one-half of the students at elite schools want to go into private equity or hedge funds. They want to keep up with their age cohorts at Goldman. This can't possibly end well in terms of meeting these expectations.

Charlie Munger

Quote Topics

Age Elite End Equity Expectations Funds Go Half Heard Hedge Hedge Fund Keep Meeting Possibly Private Private Equity Schools Students Terms Up Want Well

Quote Author

Charlie Munger
American - Businessman
Born: January 1, 1924

Wall Street, with its army of brokers, analysts, and advisers funneling trillions of dollars into mutual funds, hedge funds, and private equity funds, is an elaborate fraud.

Michael Lewis

I would much rather invest in stocks, bonds, private equity and hedge funds than watches.

J. J. Redick

It's important that we educate Americans about how hedge funds and private equity play completely different roles.

Stephen A. Schwarzman

Hedge funds, private equity and venture capital funds have played an important role in providing liquidity to our financial system and improving the efficiency of capital markets. But as their role has grown, so have the risks they pose.

Jack Reed

For most Indians in America, wealth is not inherited. Neither do we make it as heads of large hedge funds and private equity funds. For us to make it to the top, we have to use our knowhow to create great new technology products and build high-tech companies.

Romesh Wadhwani

Our economy is a plantation run for the aristocrats - the CEOs, hedge funds, private equity firms - while the field hands are left with the scraps.

Bill Moyers

There is no more staunch advocate for taking public dollars and giving them to private schools - private schools that can pick the students they want to teach - than Betsy DeVos.

Claudio Sanchez

Most startup entrepreneurs unnecessarily spend half their time and give up half their equity in search of funding from angel investors and venture capitalists. Tens of millions of dollars are available to them for free from partners who not only don't want their equity, they don't even want to be paid back.

Jay Samit

To put it another way: a conference is an elite meeting on equal terms; a congress is a group of elites meeting on opposite terms; a convention is a mob meeting on equal terms; a course is an elite instructing a mob; and a colloquium is a group capable of considering all these phenomena.

Malcolm Bradbury

Banks don't want certain asset classes, and that's created opportunities for private equity, hedge funds, Silicon Valley. In this case I think he was referring to some of the European banks shedding assets, and the big buyers are probably not going to be big American banks. Someone like Blackstone may have a very good chance to buy those assets, leverage them, borrow up a little bit, and do something good there.

Jamie Dimon

I've nothing against Goldman Sachs. But Goldman Sachs isn't an investment bank. Goldman Sachs is a hedge fund. It's bigger than any hedge fund. It's more leveraged, to the power of three or five, than any hedge fund.

Nouriel Roubini

Democratic politicians want to solve the crisis of poor education by taking more of your money and using it to reduce classroom sizes in the government schools. Republican politicians want to solve the crisis by taking more of your money to provide vouchers to a handful of the poorest students in each area, paying for a part of the tuition expense at private schools. But before long this 'reform' would make those private schools indistinguishable from the government schools ... Vouchers are an excellent way for the government to increase control over private schools.

Harry Browne

When I was 23, 24, I started covering hedge funds - a lot of this was luck - when no one else did. This was before hedge funds were the prettiest girl in school: this was pre-nose job and treadmill for hedge funds, when nobody talked to them - back then, it was just all about insurance companies and money managers.

Stephanie Ruhle

In my first meeting with somebody, I kind of say, "What are your expectations?" And there are some people who say, "I just want to be fair," so then we have to qualify what that means. But when somebody comes in and says, "I just want to nail him. I just want to exact as much punishment as I possibly can." Well, that might be a case where I say, "We may not be the right firm for you."

Laura Wasser

Venture capital has peaked in terms of its appetite, in terms of how much money it wants to put in. So now private equity funds are piling in. Primarily because interest rates are virtually zero so there's no fixed income play and they're not moving around.