"The secret of successful investing is to have a disciplined process."
Paul Singer's quote emphasizes the importance of having a systematic, well-defined approach to investing. A disciplined process refers to consistently following an investment strategy, rules, or guidelines that are based on thorough analysis, research, and experience. This approach aims to minimize emotional decisions, reduce risk, and improve long-term performance in financial markets. In other words, maintaining discipline in the investment process helps investors make rational, informed decisions and stay focused on their goals despite market fluctuations.
"In times of crisis, you find out who is swimming naked." (This quote is often attributed to Paul Singer but was actually first used by Warwick Collins in his book "The Swimming Lesson.")
This quote by Paul Singer or Warwick Collins suggests that during challenging times, the true nature of individuals or entities becomes exposed. The phrase "swimming naked" metaphorically refers to a person who is pretentious and lacks substance when things are going smoothly, but their inadequacies become glaringly obvious under stress or crisis. In other words, it reveals who has been merely dressing up without any real foundation or resources to face adversity.
"The most important thing is to do sensible things and have a process that works over time."
This quote emphasizes the value of practicality, consistency, and long-term strategies in achieving success or progress. The key message is that one should focus on implementing sensibly thought-out actions, and maintain an effective system or methodology, rather than relying solely on instant gratification or unpredictable outcomes. In essence, it suggests that adhering to a reliable process, which consistently delivers results over time, is more important and beneficial than short-term fixes or impulsive decisions.
"The best way to predict the future is to create it." (This quote is a paraphrase of a quote by Peter Drucker, but Paul Singer has used it in his speeches.)
This quote emphasizes the power of taking action and shaping one's own destiny. Instead of passively waiting for future events to unfold, it encourages proactivity and initiative. In essence, it suggests that by actively working towards a desired outcome, we are better equipped to shape our future rather than simply predicting it based on past trends or circumstances.
"If you want to be successful, it's just this simple. Know what you are doing. Love what you are doing. And believe in what you are doing."
This quote by Paul Singer emphasizes that success is achievable through a combination of knowledge, passion, and belief in one's work. Knowledge refers to understanding the tasks at hand, having the necessary skills, and being informed about relevant topics. Love indicates enjoying what you do, finding fulfillment and satisfaction in your endeavors. Lastly, belief underscores the importance of having confidence in oneself and one's abilities, as well as faith in the value and potential outcomes of the work undertaken. In essence, success results from engaging in meaningful activities with awareness, enthusiasm, and conviction.
What I think about derivatives is if every institution that owns or trades them is properly margined and marked to market, including end-users, including every institution, including sovereigns and multilateral institutions, then the system would be safe - if people were margined the way customers of investment banks are margined.
- Paul Singer
The Orderly Liquidation Authority prescribed by Dodd-Frank should be repealed and replaced by an amendment to the U.S. Bankruptcy Code which would operate to prevent cross-default provisions from impacting derivatives books so long as mark-to-market payments are being made in a timely fashion.
- Paul Singer
'Inequality' has become the political theme/slogan of our time in both Europe and the U.S., yet political leaders do not even bother to consider that their own policies, which put the entire burden on central bankers to print money and drive up stock, bond and other asset prices, are actually exacerbating income and wealth disparity.
- Paul Singer
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