Paul Singer Quotes

All I'm trying to do is manage money and take care of my shareholders.

Mutual funds dare to be average. In fact, they dare to be lousy. They have long since ceased striving for anything resembling perfection when it comes to managing your money.

The starting point of my career in money management in 1973-74 was the time of the only true bear market any living non-Japanese investor has seen in major markets. Equities, real estate, you name it, everyone got run over.

In the world of money and investing, you must learn to control your emotions.

I expect my return to be 18 to 25 percent in 1988, while the Standard & Poor's 500 should rise 8 to 12 percent and OTC stocks gain 15 percent as liquidity emerges.

Pay attention to the big themes because that's what will help you earn ten times your money.

I don't think that hedge funds are bad per se. I think they're just one more financial tool. And in that sense, they're useful.

Size will hurt returns. Look at Berkshire Hathaway - the last five things Warren has done have generated returns that are splendid by historical standards, but now give him $100 billion in assets and measure outcomes across all of it, it doesn't look so good. We can only buy big positions, and the only time we can get big positions is during a horrible period of decline or stasis. That really doesn't happen very often.

If financial assets no longer work for you at a rate far and above the rate of true wealth creation, then you must work longer for your money.

It's the company itself, but most of these mutual fund companies, the guy who runs the company is just a fact totem and the guy who runs the money is the power. But we really don't know who they are.

As a rule, bond funds will not double your money overnight.

Owning equities is an essential part of anyone's portfolio. You just can't ignore it over time. It's going to add the real pop to anyone's overall performance.

Investors have to ask themselves two questions. How much can we grow our investments? And, can we afford our mistakes?

Hedge funds try to produce above-average investment returns using tactics ranging from traditional stock-picking to complex derivative and arbitrage plays. High minimum investments, redemption restrictions and aggressive strategies make them suitable mainly for more sophisticated and well-heeled investors.

More and more investors may be coming into markets everywhere but that doesn't mean that the markets are really getting more and more efficient, even in the United States. It does mean that there is more access for savvy investors who watch the money flows.

The investor of today does not profit from yesterday's growth.

Money management has been a profession involving a lot of fakery - people saying they can beat the market, and they really can't.

I think over any period of time, especially if you don't use leverage, it is difficult to continually beat the S&P 500.

Well, actually, I manage a couple of stock portfolios or funds or whatever you want to call 'em, and I think I've done relatively well with them.

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.

Investing is about making probabilistic decisions with limited information about an unknowable future. The variables are well known, as are the possible outcomes.

The last thing you want to do, unless it's a very unusual situation, is to invest money.

The mutual fund industry and small investors are very relentless and very unforgiving if people don't perform.

I have no complaints about losing money I put in high-risk investments. I did some of that when I had real money; my informed choice, my measured gamble.

My philosophy is that if I have any money I invest it in new ventures and not have it sitting around.