A Quote by Chris Rock
My kids don't have a trust fund, they have a debt fund. Oh my God, they're $4 million in the hole.
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My kids don't have a trust fund, they have a debt fund. And when I die, they're $4 million in the hole.
You either have to find a way to be really creative materially, or you better have a trust fund. And, last I checked, I didn't have a trust fund.
If you do not have at least an eight-month emergency fund, and you think there's a probability you could loose your job - and it's not just losing your job; you could be in a car accident, get sick - continue to pay the minimum on your credit card every month. Everything beyond that needs to go to establish an emergency fund. And if you have an emergency fund saved, then fund your retirement account before paying down credit card debt.
The average person can’t really trust anybody. They can’t trust a broker, because the broker is interested in churning commissions. They can’t trust a mutual fund, because the mutual fund is interested in gathering a lot of assets and keeping them. And now it’s even worse because even the most sophisticated people have no idea what’s going on.
My favourite holdings are Vanguard's Wellington Fund, a balanced mutual fund which is a legacy investment from my first career at Wellington Management Co., and the Vanguard 500 Index Fund.
One of the things that I realize is that if you look at big business, I mean, they - and what they fund and what they do, they don't really - they don't fund the small non-profit community-based organizations that really are out there on the front lines helping people. They fund the big philanthropies. They're safe.
I run a trust through which we fund the education of underprivileged kids and better their life.
The actual fund is called "THE JIMMY FUND" and THE REDSOX FOUNDATION IN BOSTON has gotten involved and people all over New England are very supportive of this effort. The Jimmy Fund is an official charity of the Boston Red Sox and my song "Down at Fenway Park" is often played at Fenway and if you buy the C.D. a portion of the proceeds go to the Jimmy Fund via the Red Sox Foundation.
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.
When my trust fund ran out, I panicked. I have a lot of admiration for the kids who come to the big city with nothing and make it.
Fund investors are confident that they can easily select superior fund managers. They are wrong.
It is time for the general fund to pay the Social Security fund back.
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?
The biggest secret in venture capital is that the best investment in a successful fund equals or outperforms the entire rest of the fund combined.
The point is that Hillary Clinton is running on all these ideas. She's gonna do this and she gonna do that. She's gonna fix this. She's got a massive new economic plan that's not gonna add a penny to the national debt, while Donald Trump's will add 20 trillion to the national debt. What she does, she always pivots and goes back to the Children's Defense Fund. "Well, I started working in the 1970s for women and children, Children's Defense Fund." That's magic and you're not supposed to question nothing further after that.
Our experience is that most entrepreneurs are able to attract debt, even for risky and early stage investments. There are investors who provide debt, but very few who fund through equity.
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