Salomon Brothers Quotes & Sayings

Donnie Green himself had been a trader at Salomon Brothers in the dark ages, when traders had more hair on their chests than on their heads. — Michael Lewis

How could anyone be so stupid as to trust a trader? The best thing I could do was pretend to others at Salomon that I had meant to screw the customer. People would respect that. That was called jamming. I had just jammed bonds, albeit unknowingly, for the first time. I had lost my innocence. — Michael Lewis

It is my mission to change the world. I'm not kidding: Make no small plans, dream mighty things. I feel if we get enough people engaged in climate change, we will get enough people to change the world. We will revolutionize the way we produce electricity and provide clean water to people. — Bill Nye

Who do you work for? That question haunted salesmen. Whenever a trader screwed a customer and the salesman became upset, the trader would ask the salesman, "Who do you work for anyway?" The message was clear: You work for Salomon Brothers. You work for me. I pay your bonus at the end of the year. So just shut up, you geek. — Michael Lewis

No longer were the prices of ordinary mortgage bonds allowed to roam inefficiently, for they were now linked to the CMO market, in much the same way that flour is linked to the market for bread. Fair value for CMOs (the finished product) implied a fair value for conventional mortgage bonds (the raw materials). — Michael Lewis

What Gutfreund said has become a legend at Salomon Brothers and a visceral part of its corporate identity. He said: One hand, one million dollars, no tears. — Michael Lewis

The moment Salomon Brothers demonstrated the potential gains to be had from turning an investment bank into a public corporation and leveraging its balance sheet with exotic risks, the psychological foundations of Wall Street shifted, from trust to blind faith. No investment bank owned by its employees would have leveraged itself 35:1, or bought and held $50 billion in mezzanine CDOs. — Michael Lewis

One thing that's really pulled me in to helping artists create their album is that I get to help them tell a story. It's about the way you frame that story and finding the best way to tell that story. — Emily Lazar

The Piranha didn't talk like a person. He said things like "If you fuckin' buy this bond in a fuckin' trade, you're fuckin' fucked." And "If you don't pay fuckin' attention to the fuckin' two-year, you get your fuckin' face ripped off." Noun, verb, adjective: fucker, fuck, fucking. No part of speech was spared. His world was filled with copulating inanimate objects and people getting their faces ripped off. — Michael Lewis

If there was a single lesson I took away from Salomon Brothers, it is that rarely do all parties win. The nature of the game is zero sum. A dollar out of my customer's pocket was a dollar in ours, and vice versa. — Michael Lewis

For that purpose, partly as the result of Ranieri's persistent lobbying, two new facilities had sprung up in the federal government alongside Ginnie Mae. They guaranteed the mortgages that did not qualify for the Ginnie Mae stamp. The Federal Home Loan Mortgage Corporation (called Freddie Mac) and the Federal National Mortgage Association (called Fannie Mae) between them, by giving their guarantees, were able to transform most home mortgages into government-backed bonds. — Michael Lewis

You can't do a good job unless you're keen on it yourself. — David Hawkins

Once you have linked yourself with love, a flood of inspiration is revealed to you, whatever the subject, whatever the problem in life may be. Whatever it be that your eye casts its glance upon, it will disclose itself. Then you are on the real road, and what a joy this is! — Hazrat Inayat Khan

Thomas looked like someone's painting of the forgotten Greek god of body cologne. He had long hair so dark that light itself could not escape it, and even fresh from the shower it was starting to curl. His eyes were the color of thunderclouds, and he never did a single moment of exercise to earn the gratuitous amount of ripple in his musculature. He was wearing jeans and no shirt
his standard household uniform. I once saw him answer the door to speak to a female missionary in the same outfit, and she'd assaulted him in a cloud of forgotten copies of The Watchtower. The tooth marks she left had been interesting. — Jim Butcher

So we ate some smoke, so what?"
"You lost most of your eyebrows."
Stunned, she pressed her fingers above her eyes. "Shit! Why didn't you tell me?"
"It's a look. — Nora Roberts

A great friend can act like a trash can with a hole in the bottom. To listen to someone else's personal garbage with the same empathy you would spend listening to their joy, and then release that garbage just as quickly as you hear it, without absorbing it, makes you a wonderful friend to that person
and an even better one to yourself. — Doug "Ten" Rose

Politicians cannot alter trends. — Harold Watkinson, 1st Viscount Watkinson

The sonic screwdriver from Doctor Who might have worked, having been canonically established as being ineffective on wood, but nobody had ever figured out how to use the controls on the blasted thing. — Jim C. Hines

Only a seer or a lover would know that I'm making a jewelry of words for you -drawn from your essence -to flash and burn with your fire -so you can bedazzle with your own light ... — John Geddes

By the 1850s enslavers had their eyes on expansion into Cuba in order to expand Southern political power. Here we see an idyllic image of a Cuba tobacco plantation, plus the idea of "Southern rights" being used to sell cigars. "Southerner rights segars. Expressly manufactured for Georgia & Alabama by Salomon Brothers. Fabrica de tabacos, de superior calidad de la vuelta-abajo," Broadside, 1859. — Edward E. Baptist

A big bonus was about as well concealed on the Salomon Brothers trading floor as the results of a hot date in a high school boys' locker room. — Michael Lewis

Confidence is the willingness to be as ridiculous, luminous, intelligent, and kind as you really are, without embarrassment. — Susan Piver

That was how a Salomon bond trader thought: He forgot whatever it was that he wanted to do for a minute and put his finger on the pulse of the market. If the market felt fidgety, if people were scared or desperate, he herded them like sheep into a corner, then made them pay for their uncertainty. He sat on the market until it puked gold coins. Then he worried about what he wanted to do. — Michael Lewis

I have this theory," says Andy Stone, seated in his office at Prudential-Bache Securities. "Wall Street makes its best producers into
managers. The reward for being a good producer is to be made a
manager. The best producers are cutthroat, competitive, and often
neurotic and paranoid. You turn those people into managers, and they go
after each other. They no longer have the outlet for their instincts that
producing gave them. They usually aren't well suited to be managers.
Half of them get thrown out because they are bad. Another quarter get
muscled out because of politics. The guys left behind are just the most
ruthless of the bunch. That's why there are cycles on Wall Street - why
Salomon Brothers is getting crunched now - because the ruthless people
are bad for the business but can only be washed out by proven failure. — Michael Lewis

In the two decades after I left, I waited for the end of Wall Street as I had known it. The outrageous bonuses, the endless parade of rogue traders, the scandal that sank Drexel Burnham, the scandal that destroyed John Gutfreund and finished off Salomon Brothers, the crisis following the collapse of my old boss John Meriwether's Long-Term Capital Management, the Internet bubble: Over and over again, the financial system was, in some narrow way, discredited. Yet the big Wall Street banks at the center of it just kept on growing, along with the sums of money that they doled out to twenty-six-year-olds to perform tasks of no obvious social utility. The rebellion by American youth against the money culture never happened. Why bother to overturn your parents' world when you can buy it and sell off the pieces? — Michael Lewis

I've always wanted to invest. That's why I started working on Wall Street in the first place, back in 1986 when I went through the Salomon Brothers training program. — Mary Meeker

From senior management that my customer would not get scalped, then everyone could win. Salomon would make a lot of money. My customer would make a little money (which, for a customer, was grand). And I would be a hero. If there was a single lesson I took away from Salomon Brothers, it is that rarely do all parties win. The nature of the game is zero sum. A dollar out of my customer's pocket was a dollar — Michael Lewis

The difference between Strauss and Ranieri?" says one trader still at Salomon. "That's easy. Strauss wouldn't stoop to use the men's room on the trading floor. He'd go upstairs. Lewie would piss on your desk. — Michael Lewis

Social improvement is attained more readily by a concern with the quality of results than with the purity of motives. — Eric Hoffer

I'd stumbled into a job at Salomon Brothers in 1985, and stumbled out, richer, in 1988, and even though I wrote a book about the experience, the whole thing still strikes me me as totally preposterous-which is one reason the money was so easy to walk away from. — Michael Lewis

God's will is like a jigsaw puzzle, you won't be able to see the whole picture until all the pieces are together. — Danny L. Deaube