Ruane Says......
1) On investment banking
"What are they doing ? Shifting money back and forth without creating value.Most mergers don't work, but Wall stree trumps them up, and the CEO agrees because he wants to run a bigger operation. And some of those wrap accounts are terrible for clients - fees on fees"
2) On business scale :-
"Staying small is simply good business .it wouldn't be fair to out customers if we had to spread our ideas too this.There aren't that manu great companies."
3)On the new economy :-
" Ben Graham said to be careful of the good idea because it is apt to be terrible overdone."
4)On Market Crashes:-
"You have stocks at inflated levels for a long time ,just as they were at deflation levels from 1974 to 1982.
1) On investment banking
"What are they doing ? Shifting money back and forth without creating value.Most mergers don't work, but Wall stree trumps them up, and the CEO agrees because he wants to run a bigger operation. And some of those wrap accounts are terrible for clients - fees on fees"
2) On business scale :-
"Staying small is simply good business .it wouldn't be fair to out customers if we had to spread our ideas too this.There aren't that manu great companies."
3)On the new economy :-
" Ben Graham said to be careful of the good idea because it is apt to be terrible overdone."
4)On Market Crashes:-
"You have stocks at inflated levels for a long time ,just as they were at deflation levels from 1974 to 1982.
