A Quote by Martin Gilbert
I think there are probably too many asset management companies in the world, and I think the place to be is either big or small. The area where it is probably more difficult to be is in the middle ground, where you've got that cost of regulation, you've got the cost of buying your own research, you've got all the costs of running an asset management company without the benefits of a big income producing asset.
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This is probably an asset that my wife hates, where you compartmentalize. Most times, I think it's an asset, where you can just sort of feel like you chop off one part of your brain to do the next thing that you've got to do.
You don't try to have the very lowest cost of an asset. You try to have the right asset. So rather than thinking about the lowest cost, the question is how do you get the best productivity.
I think the asset management industry, especially in the US, is going through a pretty tough time. If you talk to the CEO of a US asset manager, morale would be at a low, even though stock markets are at almost record levels.
Asset management CEOs globally are looking at their business models. They're looking at costs, they're looking at making their businesses more efficient, because they're seeing revenues under pressure all over the world.
In a perfect world we don't want to be overly dependent on any single asset or be so dependent on the cycle or where one asset is the bulk of this company.
-You think I’ve got a big ego and an attitude problem? -I don’t think you do, Carlos. I know it. Unfortunately, it’s a Fuentes flaw. -I’d call it an asset. It’s what makes us Fuentes brothers irresistible. Carlos and Brittany
Larry Fink, 61, tall and outgoing and passionate about his business, is the chairman, CEO, and co-founder of the largest asset-management company in the world, BlackRock.
I think stupidity in business is really an interesting thing. What winds up happening is a disconnect between your company's strategic management and then your more applied on-the-street management. I guarantee with you that the board of directors of most companies has no idea what the costs of hiring people really is in the HR department.
Unlike cheap stocks, inexpensive asset classes have a lower chance of big drawdowns (broad asset classes don't go to zero) and a higher probability of average or better returns.
Never work for a company that says people are its most important asset. If you wanted to get a mortgage and you said that your only asset was people you would end up living in a tent.
You know, I do not think it is necessarily looks, I do not think I am the prettiest girl... Everyone has something that is their asset, some have the hair, some have the cheekbones, others have the lips. But once you know what is your asset, then you should capitalize on it.
Many think of management as cutting deals and laying people off and hiring people and buying and selling companies. That's not management, that's deal making. Management is the opportunity to help people become better people. Practiced that way, it's a magnificent profession.
Obamacare has got everyone on edge. I mean, small business - men and women or big business are sitting out there saying we have no idea what this is going to cost, but we know it's going to cost us and cost us a lot.
The problem is that you're creating a system of bubble finance where interest rates are so low that people can speculate. An asset value goes up. You put it up as collateral. You borrow against it. You buy more of the asset. You then take the rising asset. You borrow against it again. This is the nature of what's going on in the world. This isn't an excess of real savings. This is an excess of artificial credit that's being fueled by all the central banks.
My net worth is the market value of holdings less the tax payable upon sale. The liability is just as real as the asset unless the value of the asset declines (ouch), the asset is given away (no comment), or I die with it. The latter course of action would appear to at least border on a Pyrrhic victory.
The blockchain is an asset normalization platform that can enable a new liquidity in transactions, hence creating large networks of usage and value effects with benefits in speed, cost, quality, or outcomes.
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