Quotes of All Topics . Occasions . Authors
Our focus is more on secured retail business like housing and car loans. While we will do some unsecured loans - credit cards and personal loans - we will do it primarily with existing customers.
In most languages, 'control' is the first synonym for the word 'manage.' Control is about spotting and correcting deviations from pre-defined standards; thus to control, one must first constrain.
When I purchased my home, it was very strict underwriting standards. I had to provide two pay stubs, two years' tax returns, three months of bank statements, all sorts of credit card information.
Long ago, I had to sort of learn to have a thick skin to read some of the things you read in the papers and to also keep my ego in check when you read some really flattering things in the papers.
Long before folks fretted the demise of 'quantitative easing,' I fretted its existence. It proved the reverse of its image, an antistimulus, and we've done okay not because of it, but despite it.
If your incentives are set up wrong - if for some reason you reward people for behavior that's actually bad for your customers or your organization - then you're going to encourage that behavior.
I can tell you that my experience has been that the gentlemen are more likely to come and ask for the order, ask for the raise, ask for the promotion, and that the women are less likely to do so.
At West Ham I had a fantastic relationship with the board but I was really upset with them when they sold the club without telling me. I then had new owners I didn't get on particularly well with.
I think Windows 8 is a catastrophe for everyone in the PC space. I think we'll lose some of the top-tier PC/OEMs, who will exit the market. I think margins will be destroyed for a bunch of people.
It's not unusual for a would-be entrepreneur to get turned down half a dozen times before finding a willing investor - yet in most companies, it takes only one 'nyet' to kill a project stone dead.
Healthcare is growing now at about 10 per cent per annum in the U.S. top line, versus 3 per cent for the economy. As someone with a sharp pencil and an eye for this kind of thing, this can't last.
Here is part of the tradeoff with diversification. You must be diversified enough to survive bad times or bad luck so that skill and good process can have the chance to pay off over the long term.
New technology lets you grow the resource pie, which is the only way you can get out between that pincer of rising consumption (as we end poverty) and environmental and natural resource depletion.
We have to slow down the emissions of carbon dioxide and methane from coal burning, oil and eventually natural gas... And the best ways to do that are energy efficiency and a switch to renewables.
There has to be active, hands-on management in concert with the manager to lead the organization and make sure that the standards that we set for the organization as a whole are being lived up to.
When we look at the credit growth, we should look at it in its totality. Let us not only look at the non-food bank credit growth but also look at the growth across all the instruments of financing.
We think touch is short-term. The mouse and keyboard were stable for 25 years, but I think touch will be stable for 10 years. Post-touch will be stable for a really long time, longer than 25 years.
I was frustrated for a long time with my colleagues in the business school world and with so many management authors who didn't really see themselves as innovators. They were glorified journalists.
The upward move at the beginning of a bull market is almost always huge compared with the vacillations late in the bear market. If you try to pick a bottom, you will miss a good part of the action.
When you're managing a large number of people, you learn that incentives matter tremendously. You really want people to be rewarded for doing the right thing for the customers and the organization.
Almost all politicians are able to have a great one-on-one meeting. But Im not interested in the candidate who can have a great meeting. Im interested in the person who can make the right decisions.
Basic philosophy, spirit and drive of an organization have far more to do with its relative achievements than do technological or economic resources, organizational structure, innovation and timing.
When something goes wrong on the field, we expect our players to take the blame, step up, and proactively assume the blame for it, even if it's not their fault. That's the way to be a good teammate.
India did not innovate with the ATMs. But when we brought ATMs into India and made the machines talk in 15 regional languages to the people in rural India, we got millions of transactions on the ATM.
If there is a course that is quant-oriented, you need to focus on that, but if it is a course that is more general management-oriented, do you not need entrance examinations which are more all round?
Computing lets people express their creativity and unlock solutions, and code is computing's universal language. All young people, including girls, deserve to be fluent in the language of the future.
If you're 35, 45, or even 55 - you have a very long time horizon - 40 years or vastly more. That is you, and/or your spouse, are likely to live about that long, and you'll be investing the whole way.
We are too quickly losing important landscapes in this country to development - and I worry that if we do not act to protect them now, future generations will grow up in a profoundly different world.
When commercial banking opened up for the private sector, I set up the retail-banking division for ICICI and grew it substantially. I then ran the international side of the ICICI Bank for a few years.
Almost all politicians are able to have a great one-on-one meeting. But I'm not interested in the candidate who can have a great meeting. I'm interested in the person who can make the right decisions.
I've read science fiction my whole life. I never really dreamed that I'd be a published science fiction writer myself, but a short story I started years ago sort of demanded to be turned into a novel.
Isn't it only appropriate that, in return for the free use of the public spectrum, broadcasters provide something substantial, something that wouldn't otherwise be provided by marketplace competition?
But what's wrong with asking players to use their imagination, their game intelligence, as well as oomph and spirit? I don't just want them to do basic things. I'm asking them to do complicated things.
Perhaps I was always intensely curious, but my Columbia education gave me a framework and a perspective to investigate new things - things that could be put into a historical and philosophical lineage.
Derivatives in and of themselves are not evil. There's nothing evil about how they're traded, how they're accounted for, and how they're financed, like any other financial instrument, if done properly.
In China, remember, the the banks are arms of state policy. They loan because the local party official or regional party official tells them we need a new stadium. They are instruments of state policy.
Plenty of funds have fine long-term returns despite being tax-inefficient and generally costly. But a dirty secret is this: Average, no-load fund investors do much worse than the funds - or the market.
Throughout my trading career, I have continually witnessed examples of other people that I have known being ruined by a failure to respect risk. If you don’t take a hard look at risk, it will take you.
In manufacturing, too much work is beyond repetitive - it is inhumane. The people doing this work aren't doing it because they want to - they are doing it because they have families to feed and clothe.
Players that tend to respond to adversity the right way and triumph in the end are players with strong character. If you have enough guys like that in the clubhouse, you have an edge on the other team.
I don't know if I could go to another run-of-the-mill baseball department and work because it would probably feel like work. In Boston and Chicago, it doesn't feel like work. It feels like a privilege.
I always say prepare to be a coach to anybody who wants to be a coach. At 24 years of age when I left engineering to become full time in football, I made sure that I was never going back to engineering.
What American people and what the markets want is a fair and level playing-field, where the rules are clearly elucidated, where the referees are competent, and where we know that the game is not rigged.
When I got out of the Navy... all those hotshots, the guys that were really smart and attractive and all that, guess where they were going? They were going into advertising. That was the hot thing then.
The 'aha' moment came one to me one morning when I was applying my mascara, and I realized that the retirement crisis is actually a woman's crisis: Women live longer than men yet retire with less money.
Every quarter, we need to see the portfolio and follow the accounting practice of mark-to-market that values investments according to the prevailing market prices and at the price at which they are made.
The man I respect the most in the business - and he's in the hedge fund business - is probably Stan Druckenmiller. He's just so smart and so good and so up on everything. I think he's fantastic investor.
I did almost take a job in China because I thought it might be good for me to go abroad and experience what I think the best coaches in the Premier League have had. It helps you learn. You have to evolve.
Americans are analytical in their sports, which are very stop-start, so the numbers tend to add up. That's why Moneyball works for baseball. It doesn't work so well for football because it's a fluid game.
I've been a manager in the Premier League for many years and you do become conservative when you're in that bottom section. There's so much stress, because it is so important and there's so much scrutiny.