Paul Singer Quotes
102 Paul Singer Quotes (Elliott Management, Paul Elliott Singer)
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Ideas, tones, markets can go in one direction for so long supported by one concept – and on a given moment’s notice, and unpredictably, it may be over…
Paul Singer
Constant skepticism and an existential sort of humility are very useful in risk control.
Paul Singer
[In 2001 on the dotcom boom.] The power of the public on a stampede is incalculable. There is no connection to value in many sectors of today’s market.
Paul Singer
[In 2001 on modifying segments of the portfolio with regards to timing and size.] I try to add value and subtract pain.
Paul Singer
[In February 2004.] We like to create value rather than merely identify it. If we just identify value, we can't make money unless the market moves the security in the predicted direction.
Paul Singer
[In January 2008.] We like to control our own destiny.
Paul Singer
[In January 2008.] We don't see many people willing to stand up for their shareholder or bondholder rights. If you don't defend your rights, what do you have?
Paul Singer
[In March 2011 on Elliott Management having survived for 34 years.] We try to be very respectful of the unpredictability of markets. We try to at all times at least assume that the world is not being properly run.
Paul Singer
[In 2013 at the age of 69 looking back at his time as a university law student from 1966 to 1969.] I think I found every possible way to lose money in the stock market.
Paul Singer
[In 2013 looking back at very his early days.] My introduction to risk and risk management… was personal and visceral, not academic.
Paul Singer
[In 2013 on leaving his job as a lawyer to go and manage money.] Sometimes when you’re on a diving board, somebody comes back and gives you a little boot in the rear end.
Paul Singer
[In 2013 on him leaving his job as a lawyer to go and manage money.] I was determined to try to make back my parents’ money that I had lost in ’74.
Paul Singer
[In 2013 at the age of 69.] Risk managed at all times and hedged at all times is the only way to actually control risk.
Paul Singer
[In 2013.] It’s difficult - and, I later came to conclude, impossible - to determine turning points.
Paul Singer
[In 2013 on distressed investing.] What we came to like very much about distressed investing is the opportunity to control one’s destiny…
Paul Singer
[In 2013.] I’m almost always assuming or forcing myself to assume that the world is managed poorly…
Paul Singer
[In 2013.] We like having more than one level or layer of protection against risk
Paul Singer
[In 2013.] We’ve never been in a fight with any sovereign that couldn’t pay its debts…
Paul Singer
[In 2013.] You have to be in risk management mode all the time…
Paul Singer
[In 2013.] It is impossible to time the transitions of markets to crisis conditions.
Paul Singer
[In 2013.] Coasting in money management does not turn out well.
Paul Singer
I was passionate about investing. It was an obsessive hobby. I found it fund to study the relationships. It was interesting, like a game or a puzzle.
Paul Singer
The world has a rapidly shifting set of opportunities. You have to be there and you can’t stay in too long. It’s like the Welcome Wagon in front of your house for 10 minutes. You don’t want to be too late and miss the cookies.
Paul Singer
[In 2001 on convertible arbitrage becoming too cross-related to the stock market and too difficult to hedge.]
Paul Singer
We don’t trade just relationships; we try to make things happen.
Paul Singer
We… know the company, are close to the companies, have done the work, and know the numbers.
Paul Singer
Compared with stock pickers and value players, destiny is in our own hands. It is based on the quality of work and the quality of decisions – it is about getting it right.
Paul Singer
Managers fit their own personal skills, styles, and personality quirks in varying degrees into an organization. It depends on each of their own experiences and the kind of adversity they have faced.
Paul Singer
[On the stock market through to early 2000 as extraordinary with a high degree of public speculation.] Uninformed performance chasing and momentum chasing. It is a mob, a crowd.
Paul Singer
[On day traders during the dotcom boom making staggering moves in the stock market that have nothing to do with rationality or anything fundamental.] It makes the markets more volatile and less efficient. It is harder to sell short.
Paul Singer
[In 2001 on the 1968 to 1982 period.] Ideas, tones, markets can go in one direction for so long supported by one concept – and on a given moment’s notice, and unpredictably, it may be over and replaced by a whole other feeling and last another 20 years.
Paul Singer
In each whipsaw environment, a few managers will be lost. Few managers can create businesses with finesse and risk control combined.
Paul Singer
[In February 2004.] From 1968 to 1974, investors were run over by a series of unpredictable moves culminating in a crushing bear market. Risk consciousness was seared into my mind as a result of my experience during that period.
Paul Singer
[In February 2004 on the stock market in the 1970’s.] Markets were primitive; we were primitive.
Paul Singer
[In February 2004 on ensuring that anything that can go wrong won’t hurt Elliott Management too much.] We knock ourselves out for a lower return with a higher effort.
Paul Singer
[In February 2004 on remembering the 1987 stock market crash after having consistent returns for the first ten years of Elliott Management including four years with returns over 20%.] We lost only 3.5% that quarter, and were profitable for the year, but it was a pretty horrifying experience seeing how illiquid convertibles traded in a period of intense market adversity. To me it was a datapoint and a wake-up call.
Paul Singer
[In February 2004 on investing in distressed debt.] Active involvement is considered a cost of doing business. To us, it doesn't go that way. Active involvement is a primary driver for Elliott. We start by asking whether we can get involved and create value.
Paul Singer
[In February 2004.] We don't see very many people willing to step up to the plate and stand up for their rights
Paul Singer
[In February 2004.] People are respectful of us because we do what we say we'll do.
Paul Singer
[In February 2004.] We've gone out of our way to exert ourselves in areas where other firms would not and have not.
Paul Singer
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