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Quotes of the Month

"I’ve reluctantly discarded the notion of my continuing to manage the portfolio after my death – abandoning my hope to give new meaning to the term ‘thinking outside the box’"
The 84-year old Warren Buffett announces in February’s annual letter to Berkshire Hathaway shareholders that he has identified to the board four potential candidates who could take over from him

"Just like the British army, the rating agencies are in danger of fighting the last war. Continuing with the war analogy... The dangers of a cavalry charge into machine-gun fire are now apparent. But now it is as if one is being shelled by your own side too – death is a near certainty. You do wish they would stop!"
Mark Hale, CEO of Prytania Group. Fitch’s proposed changes to synthetic corporate CDO methodology got the thumbs down from CDO managers speaking at Euromoney’s bond investor forum

"We are much closer to the bottom than par, but this market could still go down 2% in a week simply on unknown news"
John Redding of Eaton Vance outlines just how jittery the loan market has become

"It’s very costly to meet you"
Norwegian prime minister Jens Stoltenberg, addressing the PointCarbon conference on emissions trading in Copenhagen this March, cracks a joke referring to his country’s decision to become carbon neutral by 2030

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