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March 13, 2008
Quote du Jour: The Secret to Making Money
In the news tonight that the $670m Carlyle Capital fund -- appropriately-named CCC -- is going down under the weight of creditors, there was this helpful quote in a WSJ story:
The secret to making money was borrowing massive sums.
Oh, now you tell me.
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Well, now that THAT secret's out, are there any others we might like to know?
So how does do I leverage my money 32 times? Really curious how retail forex brokers are doing these days as they allow up to 400x leverage on $300 accounts. Boom!
That's an incomplete recipe. Borrow massive sums against your *client's money*. Then earn performance fees. I don't think you really want to leverage your own money 32X Yaacov.
i thought the secret to make millions, would be to start with billions.
I don't think you really want to leverage your own money.
Well said. It never ceases to amaze me how people claim that private equity creates most of its "value" from "operational improvements."