A Quote by Charlie Munger
I think the idea that the hedge fund manager gets lower taxes than the taxi driver or the physics professor is insane. The legislators who leave that policy in place are derelict in their duties to be rational and fair. There are plenty of them in both political parties. It's totally outrageous.
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When a hedge-fund guy gets lucky because the market goes up, and he is going to make $200m, and you know $200 million, and he is going to pay almost no tax. I don't think that is a good thing for the country, and they are all supporting Jeb Bush and Hillary Clinton, all the hedge-fund guys. I don't want their support, because I'm totally self-funding my campaign.
There are a lot worse things you can do with all your bucks than giving them to even a mediocre mutual fund - such as, for example, giving them to a mediocre hedge fund. If supporting the lifestyle of a mediocre fund manager is your favorite charity, who am I to stop you?
I think there are probably too many hedge fund managers in the world, as well as active fund managers. The hedge fund industry is very efficient. We see a lot of hedge funds open and a lot close. It's very binary. You either succeed or fail in the hedge fund world. If you succeed, the amount the managers make it beyond most people's wildest dreams of wealth.
Both political parties should be able to support the idea that taxpayers who are lawfully present, working, and paying taxes should be able to use the programs their tax dollars pay for - it is only fair.
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.
There's something wrong when hedge fund managers pay lower tax rates than nurses or the truckers
I'm a Conservative who believes in lower taxes. They lead to a more enterprising economy. But I'm not somebody who believes you can fund lower taxes by borrowing more money.
If you got into a taxi and the driver started driving backward, would the taxi driver end up owing you money?
In the world of minor lunacy the behaviour of both the utterly rational and the totally insane seems equally odd.
A file-sharing service and a hedge fund are essentially the same things. In both cases, there's this idea that whoever has the biggest computer can analyze everyone else to their advantage and concentrate wealth and power. It's shrinking the overall economy. I think it's the mistake of our age.
When a democracy reaches a point where the politicians cannot say no to the people, and both parties are competing for votes by promising even more spending or even lower taxes, or both, the experiment is about over.
It's definitely much harder to run a hedge fund today than it used to be, in my opinion. That's because there are more hedge funds to compete with.
I like to take people you wouldn't really think people would write novels about: an aqueduct engineer, a code-breaker, a hedge-fund manager. It's in those sorts of lives that I find more fascination than in a CIA operative or a Marine or something like that.
The average hedge fund manager is going to earn zero per cent in extra return.
Thus far, both political parties have been remarkably clever and effective in concealing this new reality. In fact, the two parties have formed an innovative kind of cartel—an arrangement I have termed America’s political duopoly. Both parties lie about the fact that they have each sold out to the financial sector and the wealthy. So far both have largely gotten away with the lie, helped in part by the enormous amount of money now spent on deceptive, manipulative political advertising.
I'm quite bullish. We're coming up on year 15 of a flat stock market. Historically that's a pretty good sign. So I'm not a hedge-fund manager but if I was I think I'd be feeling pretty good.
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