A Quote by Romesh Wadhwani
For most Indians in America, wealth is not inherited. Neither do we make it as heads of large hedge funds and private equity funds. For us to make it to the top, we have to use our knowhow to create great new technology products and build high-tech companies.
Related Quotes
Wall Street, with its army of brokers, analysts, and advisers funneling trillions of dollars into mutual funds, hedge funds, and private equity funds, is an elaborate fraud.
When I was 23, 24, I started covering hedge funds - a lot of this was luck - when no one else did. This was before hedge funds were the prettiest girl in school: this was pre-nose job and treadmill for hedge funds, when nobody talked to them - back then, it was just all about insurance companies and money managers.
Hedge funds, private equity and venture capital funds have played an important role in providing liquidity to our financial system and improving the efficiency of capital markets. But as their role has grown, so have the risks they pose.
Improving oversight of hedge funds and other private funds is vital to their sustainability and to our economy's stability.
Our economy is a plantation run for the aristocrats - the CEOs, hedge funds, private equity firms - while the field hands are left with the scraps.
We really wake up every day trying to build businesses. That is the goal of private equity. It's a misnomer out there that private equity profits by shrinking companies. In fact, it's just the opposite. Private equity creates value by growing great companies.
I would much rather invest in stocks, bonds, private equity and hedge funds than watches.
It's important that we educate Americans about how hedge funds and private equity play completely different roles.
Hedge funds are a very efficient way of managing money. But there are clearly some risks. Hedge funds use credit and credit is a source of instability. Transactions involving credit should be regulated.
It's clear to me when you do private equity well, you're making companies more efficient and helping them grow and become more profitable. That success means our investors - such as public pension funds - benefit, which contributes to the economic wealth of society.
I can't figure out why anyone invests in active management, so asking me about hedge funds is just an extreme version of the same question. Since I think everything is appropriately priced, my advice would be to avoid high fees. So you can forget about hedge funds.
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.
Hedge funds are other hedge funds' toughest competition. And there are just more of them, and it's tougher and tougher all along.
I delivered lectures, and I was also a consultant for international companies in finance, both private equity and big venture capital funds.
I am the typical British aspiring working class. To be called 'elite' by people who have inherited wealth and run hedge funds or worked in the City of London, I don't criticise them for it, but the idea is frankly laughable. Just ridiculous.
I've heard that one-half of the students at elite schools want to go into private equity or hedge funds. They want to keep up with their age cohorts at Goldman. This can't possibly end well in terms of meeting these expectations.
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