Millionaires don't have astrologers, billionaires do.
There is one thing Anthony Weiner and I agree on: there are a lot of smart, hard-working people in the financial industry.
Wall Street is the only place that people ride in a Rolls Royce to get advice from those who take the subway.
There's more honor in investment management than in investment banking.
There are a lot worse things you can do with all your bucks than giving them to even a mediocre mutual fund - such as, for example, giving them to a mediocre hedge fund. If supporting the lifestyle of a mediocre fund manager is your favorite charity, who am I to stop you?
I was not a student of Wall Street, but I was a quick study.
The best way to make money on Wall Street is to sell the most sophisticated [and complex] products to the most unsophisticated clients.
I wouldn't in any way say I distanced myself from Wall Street.
A vast industry of stockbrokers, financial planners, and investment advisers skims a fortune for themselves off the top in exchange for passing their clients' money on to people who, as a whole, cannot possibly outperform the market.
The reason so many financial advisors are called brokers is because they are often broker than you.
By periodically investing in an index fund, the know-nothing investors can actually outperform most investment professionals.
When you first come in the NBA, you have a lot of conversations about saving your money, financially educating yourself, not just trusting whoever it is handling your money, not just having those meetings once a year, and not really putting the effort into learning the same way you learn your craft on the court.
Money management has been a profession involving a lot of fakery - people saying they can beat the market, and they really can't.
I've never particularly liked bankers.
It is one of my pet hates when I see players who have agents who do everything for them. They don't know how to set up their own bank accounts, they don't know what they are spending their money on and they can't make their own decisions.
Merrill Lynch is this hugely prestigious brand.
I have good people around me who guide me, tell me where I should put my money.
My parents worked as brokers at Oppenheimer securities. They managed to finagle me a job.
To this day, I'm a slave to CNBC.
Wall Street is at best ambivalent. The size of the accounts is nothing big. How many Wall Street firms do you know that are running after people with $5,000 accounts?
Many financial advisors recommend that you diversify for your own protection. What they fail to tell you is that it is also for their protection. Since most financial advisors cannot tell you exactly which stock or mutual fund is a great investment, they tell you to buy a bunch of them.
Brokerage firms don't sell customers stock so much as they sell those horrible mutual funds
There was a time when I was wondering about this business of going public, so I visited about a half-dozen companies in the Boston area, all of them formed by MIT faculty and all had gone public.
You go public because you want access to capital in the form of debt and equity.
Back then, if you had a sore arm, the only people concerned were you and your wife. Now it's you, your wife, your agent, your investment counselor, your stockbroker, and your publisher.
