A Quote by John C. Bogle
The average hedge fund manager is going to earn zero per cent in extra return.
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Our royalty statement has been minimal and menial. Really. We don't collect more than a per cent of a per cent of a per cent of a per cent of a per cent of a per cent of a per cent. We get maybe the seventh of 1 percent.
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.
Mutual fund manager performance does not persist and the return of stock picking is zero.
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.
Average tariffs between rich countries are only 3 per cent. But developing countries face tariffs of more than 300 per cent in the EU for meat and more than 200 per cent in the US for fruit and nuts. These need to come down dramatically.
The top 10 per cent of the US population appropriated 91 per cent of income growth between 1989 and 2006, while the top 1 per cent took 59 per cent.
The average Mexican lives longer now than the average Briton did in 1955. Infant mortality is lower today in Nepal than it was in Italy in 1951. The proportion of Vietnamese living on less than $2 a day has dropped from 90 per cent to 30 per cent in twenty years. The rich have got richer, but the poor have done even better.
Eighty per cent of my time is spent on paperwork, hiring musicians, putting bands together, setting up concerts, and 20 per cent is spent on the music. That's the part that you really enjoy, but you can't afford to spend 80 per cent on your music; otherwise, it's not going to happen.
You know most people live ninety per cent in the past, seven per cent in the present, and that only leaves them three per cent for the future.
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.
Here's the truth. The proposed top rate of income tax is not 50 per cent. It is 50 per cent plus 1.5 per cent national insurance paid by employees plus 13.3 per cent paid by employers. That's not 50 per cent. Two years from now, Britain will have the highest tax rate on earned income of any developed country.
If you walk along the street you will encounter a number of scientific problems. Of these, about 80 per cent are insoluble, while 19½ per cent are trivial. There is then perhaps half a per cent where skill, persistence, courage, creativity and originality can make a difference. It is always the task of the academic to swim in that half a per cent, asking the questions through which some progress can be made.
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.
Ninety per cent of life is a nightmare, do you think I am going to get it rounded up to hundred per cent?
If college cut-offs are above 90 per cent in a particular class, then where would mediocre students with 60 per cent or 70 per cent go? Students who secure 60-70 per cent marks are also intelligent, but they could not get admission in courses of their choice for scoring lower marks than the toppers.
Depression is 80 per cent of my condition, and 10 per cent is mania, and 10 per cent is what we call normal. I say that must be when I am buying groceries. Or vacuuming.
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