Wilbur Ross talks about the US economy.
Couple of notable quotes:
"I can't even think ten years down the road much less make predictions for that time frame". Said in response to a question regarding predictions that the US economy is stagnant for the next ten years
Regarding consumer sentiment:
"Yes, it has risen three consecutive period but look where it is in absolute terms, its not at a very happy point in absolute terms."...meaning it is still historically low
Regulation:
"You can't really legislate against people making mistakes"
The old wall street model was partnerships:
"Participants had unlimited individual liability and that is a much better policeman that some kids out of college trying to catch a Madoff"
On the Gov't:
"What worries me is they are trying to do too much too fast, you can't fix everything overnight"
Disclosure ("none" means no position):
It's Character, Stupid
1 hour ago
