Who is on this subjectordered by the date of their first quote here
3 of 4 lanes rest on fewer than 5 quotes and are marked thin. Offsets are days from the middle first-quote date, 30 Jun 2022 — a date, and nothing else. It is not a claim about who reached a view first.
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Bill Gurley
2
thin
2 Jul 2019 – 10 Jun 2024
-1094 d
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Howard Marks
9
30 Jun 2022 – 26 May 2026
+0 d
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Brad Gerstner
1
thin
13 Mar 2025 – 13 Mar 2025
+987 d
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Gavin Baker
2
thin
15 May 2026 – 15 May 2026
+1415 d
The chronologysourced and dated, oldest first
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Bill Gurley
Gurley mocked a VC who said cheap capital enables going after new industries, calling it flawed logic.
“I overheard a VC on a panel say that now that capital's become so cheap, we as venture capitalists get to go after all these new industries. And it really made me chuckle.”
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Howard Marks
Marks quotes Swensen saying successful investing requires uncomfortably idiosyncratic positions against the crowd.
“successful investing requires the adoption of uncomfortably idiosyncratic positions. Everybody has the same influences, everybody thinks pretty much the same,”
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Howard Marks
Marks quotes Swenson that successful investing requires uncomfortably idiosyncratic positions; tomorrow's winners are today's losers.
“Everybody has the same influences, everybody thinks pretty much the same, everybody anoints the same winners and criticizes the same losers, and obviously tomorrow's winners are usually found on the pile of today's losers,”
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Bill Gurley
Gurley predicts headlines about death of software will appear silly in less than 24 months.
“I suspect that these headlines, the end of software, the death of software, in I would argue less than twenty four months will appear to be silly.”
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Brad Gerstner
Gerstner argues successful government austerity means short-term pain for markets by withdrawing liquidity from economy.
“I think ironically, what people are not yet bracing for is that the success of austerity, the success of balancing the budget, the success of Doge, likely means short term pain for markets.”
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Howard Marks
Marks shares trader's wisdom that when it's time to buy, psychological conditions make you not want to.
“I came across a great quote within the last year from a guy who's a retired trader, When the time comes to buy, you won't want to.”
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Howard Marks
Marks reveals Bruce Karsh invested $450 million per week for fifteen weeks during the 2008 crisis.
“Bruce and I figured out that we should spend the money. He ran the fund in question and he bravely invested an average of $450,000,000 a week for the next fifteen weeks.”
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Howard Marks
Marks quotes Buffett: when others act less prudently, we must act more prudently in our own affairs.
“Buffett says most things best. He says, the less prudence with which others conduct their affairs, the greater the prudence with which we must conduct our own affairs.”
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Howard Marks
Marks notes investors sell more when prices fall, opposite of normal behavior in every other walk of life.
“In every other walk of life, we buy more when things go on sale. In the markets, we sell more when things go on sale.”
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Howard Marks
Marks quotes Swensen saying good investing requires adopting uncomfortably idiosyncratic positions.
“Dave Swenson used my favorite two word phrase that good investing requires the adoption of uncomfortably idiosyncratic positions.”
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Howard Marks
Marks quotes trader Wally Deemer: When the time comes to buy, you won't want to.
“And there was a guy named Wally Deemer, was an old time trader, who had some great quotes and he turned them into”
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Gavin Baker
Baker admits he has been hanging on to memory stocks for dear life despite contrarian instincts.
“I've been hanging on to the memory stocks for dear life. And yeah, but that's that's a that that's been a lifelong journey”
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“I would say based on every memory cycle we have had for the last twenty five years, this is the time to be selling memory 100%.”
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Howard Marks
Marks wrote a memo titled The Limits to Negativism in October 2008 after Lehman's bankruptcy.
“I wrote a memo in October of o eight, after the global financial after the bankruptcy of Lehman, with the title, the limits to negativism. And there is such a thing as being too negative.”
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