Quote of the week

Ok, I have now joined Wharton and I definitely owe a sum-up of my experience of going back to school. I will be doing that this week, but here's a quote from The Hedge Fund Implode-o-meter that caught my attention. Couldn't resist posting and this becomes my first blog post from Philly, posting it in the middle of a lecture..

Quote of the Week:
Hedge funds and private-equity firms today are like the dot-coms in 2000: Ask for money and you'll get it. They bid up the prices of everything. The amount of money flowing is almost out of control, and it's making everything overvalued. A client of mine said it's like there are 11,000 planes in the sky and only 100 good pilots -- an accident is bound to happen.
—Ray Dalio of Bridgewater Associates, quoted in Barron's, May 26th 2007 edition