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My Favorite Quotes
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 David Kotok - “Clearly there is a momentum towards gold at work. It is flirting with 500 and the indications are it should go through it. That will be a worldwide headline and will attract more buyers.”
 David Kotok - “Gold is hoarded by institutions and banks even while they say it has no monetary value, which means they are talking out of both sides of their mouths.”
 David Kotok - “I hate to say it, but war is good for stocks.”
 David Kotok - “You would worry, because an IED would be in a pile of trash, it would be in a pothole. It could be almost anywhere. I was in a Hummer when an explosion went off and hit the second hummer after us.”
 David Kotok - “Over the last few years, we've had a number of clients liquidate a portion of their stock portfolios and move it to real estate. Real estate has become an asset class with its own momentum, and it is natural for strategists to write about it.”
 David Kotok - “Both governors and every commissioner are responsible. This is not necessarily a money emergency because people are crossing the bridges, paying their tolls and the bills are being paid. But bond markets do not look favorably on unpredictable, unreliable, politically driven decisions. Government organizations are created to pass budgets and meet bond covenants. To do otherwise is irresponsible.”
 David Kotok - “The question is how informed are you If you don't know what's in the index, you are making a mistake no matter what the index is. If you don't know what's in an index, you shouldn't be buying it.”
 David Kotok - “Longer-term rates will not rise dramatically as long as the Fed keeps the short-term policy rate at 1 percent. However, the pressure for upward movement in bond rates is already there and will persist.”
 David Kotok - “All should be summoned to one room. Then they should all light up cigars. When the room is filled with smoke, they should turn off the air conditioning and don't let anybody out until they reach a decision. Shouldn't take any more than 20 minutes.”
 David Kotok - “DRPA bridge users are paying the price for the current standoff. At least those who are playing the bond positions correctly can get some of their toll dollars or tax dollars back. For the rest of the folks, let me just add that it is costing you thousands of dollars a day.”