Richard Rainwater Quotes
101 Richard Rainwater Quotes
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[On reading a copy of ‘Beyond the Limits’] I got captured by this book because it was this ultimate quant-jock-oriented approach to looking at the really big picture, [On page 66 when it talks about non-renewable resources] I really started to get twitchy.
Richard Rainwater
I thought, 'If they just get a few things right, you don't need to know anything else.’
Richard Rainwater
[On giving copies of ‘Beyond the Limits’ to others] Most of the people I gave it to would say, 'That was a great read; thank you very much; now I've got to check my quarterly results.
Richard Rainwater
[In May 2008 straight after oil prices topped $129 per barrel for the first time] I sold my Chevron. I sold my ConocoPhillips. I sold my Statoil. I sold my ENSCO. I sold my Pioneer Natural Resources. I sold everything.
Richard Rainwater
I will reload, and then I’ll go off again. I’d like to re-enter at a good price, and I’d like to re-enter at a good time, and I’d like to make another couple of billion dollars.
Richard Rainwater
[In May 2008] I just felt that America was not ready for $4 gas and we would see a pause here. And we are seeing a pause.
Richard Rainwater
[In October 2008] I reinvested in the old business, and it’s worked out really well for me. I bought Exxon stock under $75. I bought ConocoPhillips under $68. I bought Pioneer Natural Resources under $50. I bought BP. I bought Statoil. I made a big bet on the sector. I bought a lot of stocks back.
Richard Rainwater
I missed the very top by a lot. That’s okay. I’m always early. I sold after I got my first inclination that we had a problem with the demand side in America. I saw that we had a problem with the demand side and I sold out. But the stocks kept going up. And the price of oil kept going up. [On 11th of July] It went from $129 to $147. But then it went from $147 back down to under $101, and that's when I bought back in.
Richard Rainwater
I think we'll have a run on raw materials of all kinds because we've taught people all around the world how to play capitalism and all those people want to live like Americans. But when you look at us being [4.5%] of the population and using 25% of the resource base, that can't go on. You can't extrapolate that out around the globe without there being price pressures on the upside. So there are price pressures in food. There are price pressures on raw materials of all kinds, including oil.
Richard Rainwater
I'm just playing cycles here, and the cycles are really powerful and fast moving.
Richard Rainwater
I bought ConocoPhillips for $68 and sold it two days later for $78. I don't think you can make that money in that short of a time unless you get lucky.
Richard Rainwater
[On selling in August 2007 his Crescent Real Estate Equities to Morgan Stanley for $6.5 billion with a yield of just 4 to 5% for the buyers] It just seemed like the right time to do it.
Richard Rainwater
[On seeing a 70% decline in two months in a $101 million investment in Thornburg Mortgage] The single worst investment of my career… [On Larry Goldstone] He seemed like a bright guy.
Richard Rainwater
[On his partner-wife Darla Moore] You pull off everything you try to do.
Richard Rainwater
The difference between Darla and me is that I'll take a lot of time and effort to solve a problem without hurting people's feelings and reputation. By the time I'm ready to act, Darla will already have the job done
Richard Rainwater
[On the source of Darla Moore’s ambition] A mystery
Richard Rainwater
[To Darla Moore] I'm not interested in having an affair. I'll go forward with this only if you're interested in marriage
Richard Rainwater
When I see a unique and remarkable opportunity, I commit quickly and I invest heavily, because if I don't, someone else will
Richard Rainwater
[On his partner-wife Darla Moore] She's the best investment I've ever made. She wants to do not just a little more, but a lot more.
Richard Rainwater
If you happen to be in the right place at the right time, the capitalist system is a beautiful thing.
Richard Rainwater
I came out of Texas.
Richard Rainwater
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