A Quote by Ivan Glasenberg
When the opportunities come, we may not want to buy another nickel asset, but if something comes cheap enough, we're all about return on equity.
Related Quotes
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.
Buy cheap and sell high is a rule of business, and when you control enough money and enough banks you can always manage that a stock you want shall be temporarily cheap. No value is destroyed for you - only for the original owner.
What we define as a bubble is any kind of debt-fueled asset inflation where the cash flow generated by the asset itself - a rental property, office building, condo - does not cover the debt incurred to buy the asset. So you depend on a greater fool, if you will, to come in and buy at a higher price.
Opportunities may come along for you to convert something -something that exists into something that didn't yet. That might be the beginning of it. Sometimes you just want to do things your way, want to see for yourself what lies behind the misty curtain. It's not like you see songs approaching and invite them in. It's not that easy. You want to write songs that are bigger than life. You want to say something about strange things that have happened to you, strange things you have seen. You have to know and understand something and then go past the vernacular.
Sometimes, the money is exciting. You want to buy a house, or a car, and then you jump into it. So, there are a lot of things that come into consideration, and that's fair enough. There may or may not solely be one reason why you do films.
I buy 1920s iridescent Scottish glass. I love the way the sun hits it every morning. You touch something and you know. To me, people should buy something they love. Buy something you'd want to come downstairs and stroke.
All I know is that I've wasted all these years looking for something, a sort of trophy I'd get only if I really, really did enough to deserve it. But I don't want it anymore, I want something else now, something warm and sheltering, something I can turn to, regardless of what I do, regardless of who I become. Something that will just be there, always, like tomorrow's sky. That's what I want now, and I think it's what you should want too. But it will be too late soon. We'll become too set to change. If we don't take our chance now, another may never come for either of us.
When you buy a meal and you pay a fair price for it, are you doing this to ensure that the employees get health care? When you walk into Mickey D's and you buy a Big Mac, do you ask them, "By the way, is this thing costing enough so that you get health care here? By the way, is this Big Mac costing enough so that you get a pension here?" Do you think any of that when you go buy a Big Mac? No. You want it to be as cheap as it can be. That's why you're there.
On the one hand, shopping is dependable: You can do it alone, if you lose your heart to something that is wrong for you, you can return it; it's instant gratification and yet something you buy may well last for years.
On the one hand, shopping is dependable: You can do it alone, if you lose your heart to something that is wrong for you, you can return it; it's instant gratification and yet something you buy may well last for years.
When you look at a company like Amazon, one of the reasons that Amazon is one of the most powerful companies in the world is because we want to buy cheap stuff. If Donald Trump were to change trade laws, we couldn't buy the cheap stuff or in our Wal-Marts, they would cost a whole lot more.
Rule One. You must know the difference between an asset and a liability, and buy assets. An asset is something that puts money in my pocket. A liability is something that takes money out of my pocket.
I think the issue that millennials have is that the return on asset classes such as bonds, cash, are so low now compared to the historical levels that it's very difficult for them to save enough to be able to retire comfortably. If interest rates do trend back upwards, it may be less of a problem going forward.
There's no such thing as a value company. Price is all that matters. At some price, an asset is a buy, at another it's a hold, and at another it's a sell.
Opportunities may come along for you to convert something - something that exists into something that didn't yet. That might be the beginning of it.
People want to buy cheap and sell dear; this by itself makes them countertrend. But the notion of cheapness or dearness must be anchored to something. People tend to view the prices they’re used to as normal and prices removed from these levels as aberrant. This perpective leads people to trade counter to an emerging trend on the assumption that prices will eventually return to “normal”. Therein lies the path to disaster.
Related Authors
Bill Gates Quotes
American
Businessman
Charlie Munger Quotes
American
Businessman
Dieter F. Uchtdorf Quotes
German
Businessman
Henry Ford Quotes
American
Businessman
Jim Rohn Quotes
American
Businessman
Joseph B. Wirthlin Quotes
American
Businessman
Mark Cuban Quotes
American
Businessman
Mark Zuckerberg Quotes
American
Businessman
Peter Drucker Quotes
American
Businessman
Richard Branson Quotes
British
Businessman
Russell Simmons Quotes
American
Businessman
Sam Altman Quotes
American
Businessman
Steve Jobs Quotes
American
Businessman
Tom Peters Quotes
American
Businessman
Walt Disney Quotes
American
Businessman
Warren Buffett Quotes
American
Businessman