78 Quotes About Wall-street

Corporate finance, which services the corporations and governments that borrow money, and that are known as “clients,” is, by comparison, a refined and unworldly place. Because they don’t risk money, corporate financiers are considered wimps by traders.

These Ginnie Maes suck. They get longer [in maturity] when rates go up, and shorter when rates go down, and nobody wants them

This completed the curious reversal in roles that occurred in the early 1980s, when thrifts became traders and traders thrifts.

How could anyone be so stupid as to trust a trader? The best thing I could do was pretend to others at Salomon that I had meant to screw the customer. People would respect that. That was called jamming. I had just jammed bonds, albeit unknowingly, for the first time. I had lost my innocence.

A fisherman always sees another fisherman from afar

Bear markets are like bad colds. You hate them, but you know eventually you'll feel better.