The Fed knows that the economy is in terrible shape and that they must bring down short-term rates to the level of inflation. If inflation keeps coming down, the Fed, to a certain extent, has to chase inflation. |
The major difference between us and Excite, for example, is that they work at only 12 participating merchants, who are paying Excite a transaction fee for every purchase, ... We are not holding the customer's data. It's on your PC; eWallet just passes it through to a site without us ever even seeing it. |
The market can move for irrational reasons, and you have to be prepared for that, ... you need to make big bets when the odds are in your favor -- not big enough to ruin you, but big enough to make a difference. |
The market needs to yield close to 3.5 percent before it approaches fair value, and that means Dow 5,000, |
There's little doubt...that the bond market's salad days are over, |
There's nothing really wrong with [some of the things GE has done], ... It's to the advantage of a company to borrow cheaply and sell stock at a high P/E ratio. That's what companies can do to assist in growing earnings. |
They will cut until they reach the point that the average consumer finally cries 'uncle' and starts to take on risk. |
This is a market of disparate opinions and therefore increasing opportunities for those who get it right. We hope to be one. |
This radically changes advertising. It makes it much more accountable. |
This works because merchants have a high cost of customer acquisition, and we lower it, ... We bring them customers with their wallets open. |
thoughtful, secular approach to the chairmanship, focused on the long-term evolution of the U.S. and the global economy. |
To the extent that they're at the beginning of their cycle, much as we were 12 months ago, that suggests a negative outlook for their bonds. |
Too much debt, geopolitical risk and several bubbles have created a very unstable environment which can turn any minute, ... More than any point in the past 20 or 30 years, there's potential for a reversal. |
Value is returning to the Treasury market, |
We can have a big impact not only in the U.S. , but in the developing world. |