A Quote by Robert F. Engle

There are a lot of ways that investment banking models work, but these risks are not internalized by the people that are taking them.

Robert F. Engle

Quote Topics

Banking By The People Investment Investment Banking Lot Models People Risks Taking Them Ways Work

Quote Author

Robert F. Engle
American - Economist
Born: November 10, 1942

Before starting my own investment funds, the only models I was aware of were those of Warren Buffett and Charlie Munger. Their models made a lot of sense to me, so I cloned them.

Mohnish Pabrai

We are exploring creative models to pursue innovation outside the confines of our normal process, taking calculated risks and learning from them.

Denise Morrison

I started in investment banking at Allen & Company in 1991. It was the go-go days of media mergers, and we were incredibly busy with one deal after another. Unlike typical investment banking groups, even in the midst of merger mania, we didn't have a formal face-time culture - and I felt empowered by that.

Dara Khosrowshahi

There are some risks we choose to take because the benefits from taking them exceed the possible costs. Optimal behavior takes risks that are worthwhile. This is the central paradigm of finance: we must take risks to achieve rewards, but not all risks are equally rewarded.

Robert F. Engle

We got a lot of excellent people and businesses from Bear and WaMu. But Bear definitely was more painful. WaMu got us into Florida, California, and other states, which was a huge benefit - to expand and grow and add middle-market, private banking, investment banking, and other products, too.

Jamie Dimon

The ultimate arbiters of the models of banking and the management of banking are the investors. It's the shareholders.

Bob Diamond

The climate-studies people who work with models always tend to overestimate their models. They come to believe models are real and forget they are only models.

Freeman Dyson

Sociopaths are not inhibited by the notion that it's wrong to be addicted, or wrong to buy illegal drugs. Also, drinking or taking drugs can be a lot of fun, and even if it's not, it can dull that painful boredom for a while. So can certain other things, like taking risks, and particularly if you take a risk-averse person and you can manipulate him or her into taking risks, that's really fun.

Martha Stout

And I think we need a combination of a freeze, potentially, and also we need to sit down with the - with the banking industry and talk to them about ways in which we can help them be able to work those mortgages out, because it's absolutely imperative that we keep people in their homes.

Debbie Wasserman Schultz

I think that's something that investment banks have worried about for a long time and are continuing to worry about, but it's not an easy solution when you have lots of people betting the company's money, how do you really allocate those risks? How do you make sure that the people that take the risks are feeling the risks in an appropriate kind of fashion?

Robert F. Engle

I talk a lot about taking risks, and then I follow that up very quickly by saying, 'Take prudent risks.'

Irene Rosenfeld

Being myself includes taking risks with myself, taking risks on new behavior, trying new ways of 'being myself', so that I can see who it is I want to be.

Hugh Prather

Nothing's about taking risks as much as doing stuff that other people haven't done before. Just like in racing, it's not about taking risks but trying to figure out how to be faster.