Duff McDonald quotes

“When you're in a commodity business, the only way to thrive is to be a low-cost producer. And when you're selling money, you're in a commodity business.”
-- Duff McDonald

Source : Duff McDonald (2009). “Last Man Standing: The Ascent of Jamie Dimon and JPMorgan Chase”, p.151, Simon and Schuster

#Cost Quotes #Banking Quotes #Way Quotes

“The goal [is] not only to earn high returns at the top of the cycle but also to avoid giving them back at the bottom.”
-- Duff McDonald

Source : Duff McDonald (2009). “Last Man Standing: The Ascent of Jamie Dimon and JPMorgan Chase”, p.235, Simon and Schuster

#Giving Quotes #Goal Quotes #Banking Quotes

“Any chief executive who hires a consultant to give them strategy should be fired.”
-- Duff McDonald

Source : Duff McDonald (2014). “The Firm: The Inside Story of McKinsey, The World's Most Controversial Management Consultancy”, p.113, Oneworld Publications

#Giving Quotes #Strategy Quotes #Chief Executives Quotes

“Before you count the profit, count the cost of a working mother.”

“LISP programmers know the value of everything and the cost of nothing.”

“The fact that beauty is at one and the same time without cost and above price, robs it of the curse of possessiveness.”

“The politics of banking is bad everywhere, including UK. Eurozone has more problems, unhealthy symbiosis.”

“I don't think you can consistently be a winning trader if you're banking on being right more than 50 percent of the time. You have to figure out how to make money being right only 20 to 30 percent of the time.”

“Banks get in trouble for one reason: They make bad loans.”

“The goal [is] not only to earn high returns at the top of the cycle but also to avoid giving them back at the bottom.”

Source : Duff McDonald (2009). “Last Man Standing: The Ascent of Jamie Dimon and JPMorgan Chase”, p.235, Simon and Schuster

“The increase in the assets of the Federal Reserve Banks from 143 Million dollars in 1913 to 45 Billion dollars in 1949 went directly to the private stockholders of the [Federal Reserve] banks.”

Source : Eustace Clarence Mullins (2013). “The Study of The Federal Reserve and Its Secrets”, p.180, Simon and Schuster

“I'm not an athiest. How can you not believe in something that doesn't exist? That's way too convoluted for me.”

“Just as modern motorways have no room for ox-carts or wandering pedestrians, so modern society has little place for lives and ways that are too eccentric.”

Source : "The Heart of Things".