Thomas Peterffy Quotes

As the financial experts all over the world use machines to unwind Gordian knots of financial arrangements so complex that only machines can make - 'derive' - and trade them, we have to wonder: Are we living in a bad sci-fi movie? Is the Matrix made of credit default swaps?

I believe that good investors are successful not because of their IQ, but because they have an investing discipline. But, what is more disciplined than a machine? A well-researched machine can make many average investors redundant, leaving behind only the really good human investors with exceptional intuition and skill.

I grade my stocks. I'm what they call a quant, one of the geeks of the stock market.

High-frequency traders are firms all around the world. They're massive investments.

You need to have a lot of human judgment involved in the financial industry in terms of risk management, in terms of investment decisions, and things that really allow us to blend the best of technology and the human brain.

We believe behavioral science, cognitive computing, and machine intelligence are essential to a successful, holistic surveillance offering and critical to efficient and effective organizational compliance with an increasingly intricate global regulatory environment.

We don't take on Google Glass or the self-driving car project or Project Loon unless we think that on a risk-adjusted basis, it's worth Google's money to do it.

To beat the market you'll have to invest serious bucks to dig up information no one else has yet.

Whenever you try to pick market tops and bottoms, you are making a prediction. Guessing what stock is going to outperform the market is forecasting, as is selling a stock for no apparent reason. Indeed, nearly all capital decisions made by most people are unconscious predictions.

I have never for a minute felt in was my stock picking abilities. I feel that my stock picking abilities aided- I was able to pick out which are the good stocks in the good market, but I have been blessed with a great market.

Electronic communications networks match trades between investors directly, without using a market maker or specialist as an intermediary.

I mean I'm not smarter than the market, but I can recognize a good tape and a bad tape. I recognize when it's right and when it's wrong and that's what my strength is.

If you go back to 2001, the market had two violent short covering rallies then, although I know the market didn't officially get going until March 2003.

There's no statistical evidence that human beings have an ability to move in and out of the markets effectively. It's next to impossible.

I got into online trading. It was alarmingly easy to do. I went through the whole cycle of emotions, from supreme self-confidence to total impotence. I broke even in the end.

All too often, the pitchmen are selling the notion that if you gain 'control' over your financial destiny - pick your own stocks and execute your own trades - it will be the first step on a short road to riches.

Numerous academic studies have shown that amateur investors make poor traders - buying stocks for the wrong reasons, holding losers for too long, and acting on whims and emotions.

Markets don't allow you to hang about.

Our technology has already outstripped our ability to control it.

The markets were run by mathematicians and their models but they had no business sense.

As machines take over the decision-making that saves lives, we are left with fewer chances to save lives later.

I'm a futures man.

I would much rather we concentrated on the immediate, still-potent dangers, such as nuclear weapons, runaway climate change, and so on. Sort those out, then worry about Hal 9000.

I'm going to reveal the grand secret to getting rich by investing. It's a simple formula that has worked for Warren Buffett, Carl Icahn and all the greatest investment gurus over the years. Ready? Buy low, sell high.

Market timing doesn't work. If all the bubbles and all this mispricing really exist, how come so few people see it before it turns out that way?