Stephen A. Schwarzman Quotes

I was in an interdisciplinary major - which was a new thing then - which was psychology, sociology, anthropology, and biology, which is really sort of the study of the human being.

- Stephen A. Schwarzman

New, Human Being, Which, Anthropology

You can't grow unless your banking system is expanding and you are extending credit.

- Stephen A. Schwarzman

Grow, System, Expanding, Banking

It's important that we educate Americans about how hedge funds and private equity play completely different roles.

- Stephen A. Schwarzman

Play, Private, Roles, Different Roles

Today, whenever I'm under pressure to make a decision on a transaction but I don't know what the right one is, I try desperately to postpone it. I'll insist on more information - on doing extra laps around the intellectual parking lot - before committing. I take the same approach with people, too.

- Stephen A. Schwarzman

Doing, Parking, Before, Insist

Most youth are lacking critical life skills that make them employable and, most importantly, able to keep a job - things like teamwork, decision-making, and time management.

- Stephen A. Schwarzman

Like, Critical, Importantly, Lacking

China on the world stage, in terms of interaction with the rest of the world, has been relatively very new due to the long isolation period until Deng Xiaoping's times.

- Stephen A. Schwarzman

Rest, New, Very, World Stage

Live life intensely - I've always believed in that.

- Stephen A. Schwarzman

Live, Always, Intensely, Believed

I like being in warm weather. I find that relaxes me. I like being near water. I like sitting on a beach and sort of hearing the water, watching waves break, looking at the shimmering. I find that really relaxing.

- Stephen A. Schwarzman

Waves, Like, Break, Hearing

I have a saying: There are no brave old people in finance. Because if you're brave, you mostly get destroyed in your 30s and 40s. If you make it to your 50s and 60s and you're still prospering, you have a very good sense of how to avoid problems and when to be conservative or aggressive with your investments.

- Stephen A. Schwarzman

Conservative, Very, Mostly, Old People

Preparing youth for employment requires training that is demand-driven to meet the needs of companies and ensure that young people are taught marketable skills.

- Stephen A. Schwarzman

Young, Needs, Ensure, Employment

As the world has become more predatory and aggressive, my impression is that the investment banking business has moved from being relationship-oriented to being increasingly transaction-oriented.

- Stephen A. Schwarzman

Business, More, Increasingly, Aggressive

Doing a me-too business, because it's you - the only person who cares about that is you. The market doesn't care if it's you. The market is pretty much being served. You better have something that the world doesn't have, because even then, you might screw it up through your own ineptitude and inexperience.

- Stephen A. Schwarzman

Doing, Own, Through, Inexperience

I'm concerned with China growing at double or triple the rate of the West, that there will be tensions. One needs to do something to start addressing misunderstandings and frustration.

- Stephen A. Schwarzman

Needs, Concerned, Addressing, Triple

I think people have to read more and learn more about what's going on internationally.

- Stephen A. Schwarzman

Think, I Think, Read, Internationally

Dodd-Frank has disproportionately burdened community banks, despite their having no role in the financial crisis.

- Stephen A. Schwarzman

Financial Crisis, Having, Dodd-Frank

Education around entrepreneurship should start early, at secondary level, and be very robust by college level.

- Stephen A. Schwarzman

Education, College, Very, Secondary

In life, you'll often find that having influence and providing sound advice is a good thing, even if it attracts criticism or requires some sacrifice.

- Stephen A. Schwarzman

Some, Providing, Having, Attracts

When you lose control of risk at a financial institution, you do a variety of unfortunate credit extensions or purchases - and all of a sudden, you've blown up your business.

- Stephen A. Schwarzman

Business, Unfortunate, Extensions

I'm not feeling undertaxed. Tax reform is an important issue. You have to have an inherent sense of fairness.

- Stephen A. Schwarzman

Tax, Fairness, Issue, Tax Reform

I'm pretty good on my feet. I'm pretty decent at bobbing and weaving, but there's only so long you can bob and weave when you don't have a good base.

- Stephen A. Schwarzman

Feet, Pretty, Pretty Good, Weaving

Deals really have to do with the overlap of what one side wants and the other side wants, and it's really just the discovery of where that overlap is and how you decide to get there.

- Stephen A. Schwarzman

Other, Decide, Side, Overlap

When I was much younger, I realized that when I was handling something very large, and I was on my own doing that, that my breathing rate would increase, and that would affect my ability to think as well as I normally would. So when that starts happening, I slow down.

- Stephen A. Schwarzman

Doing, Very, Affect, Normally

For future geopolitical stability and global prosperity, we need to build a culture of greater trust and understanding between China, America and the rest of the world.

- Stephen A. Schwarzman

Trust, Rest, Need, Stability

Don't go into something you actually don't know much about, in the hopes that you're going to get really financially successful and rewarded... even though people think you're, like, terrific.

- Stephen A. Schwarzman

Think, Going, Though, Financially

I grew up in a small town outside Philadelphia and went to the local high school, where I ran track all four years.

- Stephen A. Schwarzman

Small, Town, Grew, Ran

Sleeping at night is not a specialty of entrepreneurs. The entrepreneur who is sleeping soundly, something bad is happening to that person; they just don't know it's happening yet.

- Stephen A. Schwarzman

Night, Bad, Specialty, Entrepreneur

Ironically, when a bunch of very smart people are sitting around a table for hours trying to figure out whether they should do something, that tends to not necessarily lead to the best results.

- Stephen A. Schwarzman

Hours, Very, Figure, Table

Business is usually a team sport. There isn't one great person sitting there directing things. You can't run an effective business like that.

- Stephen A. Schwarzman

Business, Run, Like, Sitting

The Schwarzman Scholars is a program that was designed with Tsinghua University. They asked me to do something in honor of their 100th anniversary.

- Stephen A. Schwarzman

Honor, University, Program, Scholars

I chose to start Schwarzman Scholars because I saw the potential for the world to become focused and unhappy with China, in large part because of the populism that was growing throughout the world.

- Stephen A. Schwarzman

Start, Part, Large, Scholars

Washington, D.C., puts enormous burdens on people who, at the end of the day, are just humans.

- Stephen A. Schwarzman

End Of The Day, Enormous, Burdens

In the charitable world, I find myself giving to large projects that I think can make a large-scale impact.

- Stephen A. Schwarzman

Think, I Think, Projects, Large-Scale

Blackstone is a major client of many of the largest banks around the world.

- Stephen A. Schwarzman

World, Largest, Major, Client

The best investments are the easiest ones to approve.

- Stephen A. Schwarzman

Best, Easiest, Investments, Approve

Being reasonably direct about what you're doing, being comfortable, is the best way to do things.

- Stephen A. Schwarzman

Doing, Comfortable, Best Way, Reasonably

There's usually room in the theme parks business for efficiencies on the cost side and new investment, which drives traffic.

- Stephen A. Schwarzman

New, Side, Which, Efficiencies

In a financial crisis, only the Fed, as the lender of last resort, might stand between our economy and financial catastrophe. We must leave the Fed with the flexibility to provide liquidity in order to stop a financial panic.

- Stephen A. Schwarzman

Crisis, Financial Crisis, Lender

In the Catholic schools, they spend much less money than the public schools, and they get amazing results. Private schools spend much more money than the public schools, and they get remarkable results.

- Stephen A. Schwarzman

More, Private, Less Money, Private Schools

Paid leave is worth every penny.

- Stephen A. Schwarzman

Leave, Paid, Every, Penny

After years of studying French in school, one of my professors said he'd really appreciate it if I didn't take any more French.

- Stephen A. Schwarzman

Studying, More, Any, French

We need to be able to identify and support young people who demonstrate interest and aptitude in entrepreneurship and business creation and give them tools to follow this path throughout their educational experience.

- Stephen A. Schwarzman

Give, Educational, Identify, Aptitude

The concept of fair value accounting is correct and useful, but the application during periods of crisis is problematic. It's another one of those unintended consequences of making a rule that's supposed to be good that turns out the other way.

- Stephen A. Schwarzman

Other, Concept, Correct, Accounting

My biggest job really is to figure other people out. I need to understand what makes a person tick.

- Stephen A. Schwarzman

Need, Other, Figure, Tick

Every year, I speak to our new associates and give them this advice, although in my own words. 'This isn't like school,' I tell them, 'where you want to get your hand in the air and give an answer quickly. The only grade here is 100. Deadlines are important, but at Blackstone you can always get help in meeting them.'

- Stephen A. Schwarzman

Advice, Year, Here, Deadlines

We need sobriety, rationality, and civility in the discussions on the regulation of financial institutions so that the banks can return in a robust manner to their central role in funding the economy.

- Stephen A. Schwarzman

Civility, Sobriety, Funding, Rationality

Inaccurate analysis produces faulty insights and bad decisions - which lead to losing a tremendous amount of money.

- Stephen A. Schwarzman

Bad, Which, Amount, Tremendous Amount

As you have more resources in life, it's your obligation to deploy those for the benefit of others.

- Stephen A. Schwarzman

More, Obligation, Resources, Deploy

I can't micromanage what anybody pays or doesn't pay. But the concept that half of the public isn't involved with the income-tax system is somewhat odd and I'm not saying how much people should do, but we should all be part of the system.

- Stephen A. Schwarzman

Concept, Anybody, Half, Pays

The library helps lower- and middle-income people - immigrants - get their shot at the American dream.

- Stephen A. Schwarzman

Library, Dream, Lower, Helps

Part of China's strategic planning is to make their universities among the top level of the world, and I think they understand you can't do that without the adoption of some of the principles of the great universities in the West; one of those is the ability to have free expression and discussion in the classroom.

- Stephen A. Schwarzman

Some, I Think, Strategic, Adoption

This country, of course, needs fundamental reform of our financial regulatory system, as I, and many other financial institution executives, have publicly advocated for a considerable period.

- Stephen A. Schwarzman

Country, Other, Needs, Considerable

I have no first-strike capability. I never choose to go into battle first. But I won't back down.

- Stephen A. Schwarzman

Battle, Never, Go, Capability

It's a great privilege to be asked to help the country - even if it occasionally comes with some degree of criticism.

- Stephen A. Schwarzman

Country, Degree, Some, Occasionally

Next to my mom, I'm actually a shrinking violet.

- Stephen A. Schwarzman

Next, Violet, Actually, Shrinking

Blackstone is not really a business per se. It's a mission to be the best.

- Stephen A. Schwarzman

Business, Best, Mission, Per

The biggest mistake I've seen people make with their careers is, when they're good, after two or three years - and they happen to be smart - they announce that they're going out to start their own firm.

- Stephen A. Schwarzman

Mistake, Happen, Going, Announce

One of the rules I've learned is that struggling to try and think your way into making an investment is usually the best way to not have a great outcome.

- Stephen A. Schwarzman

Think, Making, Best Way, Outcome

When society starts moving in a way that becomes very negative, whether it's in the West or any other place, I've always found that it's very useful to have people around who actually know what's happening.

- Stephen A. Schwarzman

Other, Very, Around, Useful

Sometimes, success in life is knowing one's limitations.

- Stephen A. Schwarzman

Success, Knowing, Sometimes, Limitations

I didn't want to be a retailer. I hated to wait on people.

- Stephen A. Schwarzman

People, Wait, Want, Hated

I love picking people. I started Blackstone, and we had no people, and now we have with our portfolio companies about 750,000 people all over the world. Everybody who is at a senior level has ultimately been picked by me.

- Stephen A. Schwarzman

Love, Been, Everybody, Picking

I didn't get to be successful by letting people hurt Blackstone or me.

- Stephen A. Schwarzman

Me, Get, Letting, Hurt

We have limited time, and we have to maximize it.

- Stephen A. Schwarzman

Time, Limited, Limited Time, Maximize

I've lived through periods of illiquidity before. Asset prices come down. The economy slows or even goes into recession. Then the cycle re-starts. We buy at lower prices with less leverage.

- Stephen A. Schwarzman

Through, Leverage, Before, Prices

In 2014, Blackstone was the most profitable money manager in the world. I did not anticipate that.

- Stephen A. Schwarzman

Money, World, Most, Anticipate

I don't feel like a wealthy person. Other people think of me as a wealthy person, but I don't. I feel the same as when I was a fifth-year associate trying to make partner at Lehman Brothers. I haven't changed.

- Stephen A. Schwarzman

Think, Other, Wealthy, Associate

We're so overregulated as a country that we just crushed our productivity.

- Stephen A. Schwarzman

Productivity, Country, Just, Crushed

I've learned that all investments have risk.

- Stephen A. Schwarzman

Learned, Investments, Risk

When deals go wrong, you have no one else to blame, so you yell at yourself, and you yell at others.

- Stephen A. Schwarzman

Go, Yell, Else, Deals

Some of the people in finance touch enormous parts of the economy.

- Stephen A. Schwarzman

Touch, Some, Enormous, Parts

The language skill in the U.S. for the most part has been awful. Many Americans don't learn any foreign language.

- Stephen A. Schwarzman

Learn, Been, Part, Skill

As long as you're excellent, things work out for you.

- Stephen A. Schwarzman

Work, Excellent, Things, Work Out

To the extent that I can add value and make my country a better place, that's a good thing to do.

- Stephen A. Schwarzman

Country, Add, Extent, Good Thing

I always felt uncomfortable with real estate because buildings don't move, and neighborhoods change.

- Stephen A. Schwarzman

Always, Neighborhoods, Move, Uncomfortable

I'm doing my sit-ups and watching CNBC. Suddenly, somebody starts talking about me on television... The business has gone into a weird zone of visibility. For those of us who have done it for a long time, it's strange.

- Stephen A. Schwarzman

Doing, Talking, About, Suddenly

Public service is a core value for people of my generation.

- Stephen A. Schwarzman

Service, Generation, Public, Core

My first trip to China was 1990, and that was in a world where there were virtually no cars at all on the road, and everybody had bicycles.

- Stephen A. Schwarzman

Everybody, Had, Virtually, Trip

My father was very bright. My mother had enormous drive. Put that together, and that's my gene pool.

- Stephen A. Schwarzman

Father, Very, Gene, Pool

If I get angry, it's obvious. I don't have to say much.

- Stephen A. Schwarzman

Angry, Say, Get, Obvious

What you find when you live in the United States, you live in the West, is that when somebody fails, it's never their fault. They always like to blame somebody other than themselves for a failure.

- Stephen A. Schwarzman

Always, Other, United States, Blame

What I've found in being around political people is they're willing to negotiate their ideology somewhere around 5 percent. They believe that's really stepping out. And it's really hard to do business when you only move 5 percent from your ideology.

- Stephen A. Schwarzman

Political, Ideology, Willing, Negotiate

It's wonderful to learn about new cultures and to be able to travel easily to so many countries.

- Stephen A. Schwarzman

Learn, New, Able, Cultures

Every day should be a good day. People fool themselves that they'll be here forever.

- Stephen A. Schwarzman

Every Day, Here, Themselves, Fool

I love things that cost nothing that have great results.

- Stephen A. Schwarzman

Love, Cost, I Love, Results

I love houses. I'm not sure why.

- Stephen A. Schwarzman

Love, Sure, I Love, Houses

Markets tend to always overshoot when they get really ebullient.

- Stephen A. Schwarzman

Always, Get, Tend, Markets

I'm a consistent little person.

- Stephen A. Schwarzman

Person, Little, Consistent

I've always been comfortable with people who run things, whether it was the principal of my high school or the president of the university.

- Stephen A. Schwarzman

University, Always, Been, Principal

I don't control the political world.

- Stephen A. Schwarzman

Political, Control, World, Political World

I like creating new things.

- Stephen A. Schwarzman

New Things, New, Like, Creating

China is an indomitable force, and they have a commitment for excellence.

- Stephen A. Schwarzman

Excellence, Commitment, China

I like things with upside. That's how you make money.

- Stephen A. Schwarzman

Money, How, Like, Upside

The Internet has turned everybody into a global person, whether they know it or not.

- Stephen A. Schwarzman

Person, Everybody, Whether, Turned

There are no patents in finance.

- Stephen A. Schwarzman

Patents, Finance

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