A Quote by Craig T. Nelson
California is no longer a state, it's a hedge fund.
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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.
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.
Insider trading by hedge funds has a long and distinguished history, dating to the days when people didn't know that there was such a thing as a hedge fund.
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.
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.
Hillary Clinton turned the State Department into her private hedge fund. The Russians, the Saudis, the Chinese - all gave money to Bill And Hillary and got favourable treatment in return.
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?
Hedge fund managers charge so much more than mutual fund managers; alpha is even harder to come by. They end up selling a variety of things beyond mere outperformance.
California has set up regional collection offices around the world, staffed by California employees, specifically for out of state California businesses to collect the money and bring it back to California.
Virtually throughout its history, and certainly in the 20th century, California has been known as the place to go for dynamism and growth. It did not become the richest, most populous, and most productive state solely because of its weather and natural resources. So it takes a lot to turn California around from growth to contraction, from people moving into the state to a net exodus from the state, from business moving into California to businesses leaving California. It takes some doing. And the Left has done it.
The big advantage that we have as a venture capital firm over a hedge fund or a mutual fund is we have a 13-year lockup on our money. And so enterprise can go in and out of fashion four different times, and we can go and invest in one of these companies, and it's okay, because we can stay the course.
If competition for Kaggle's top talent becomes fierce enough among banks, insurance companies, hedge funds - we hope the world's best data scientists will earn more than $50 million per year, just like the world's best hedge fund managers.
The Fed is the greatest hedge fund in history.
If you look at the state of California, the children who are not receiving the education that they should are both black and Latino children. And together they would represent a majority of progressive voters in the state of California. And the state is still very, very broken.
California is a bellwether state. California was the first state in the United States to overturn the laws against interracial marriage. It took 19 years for the rest of the country to come around to that point of view.
As I said in my state of the state address, we can no longer rely on gaming and sales taxes to pay our way. Indian gaming next door in California is eroding our major industry in Nevada.
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