YouSaid · the spoken record

Arthur Samberg

lines on the record: 130
first: 2015-09-26
most recent: 2015-09-26
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“Well, that's. I knew nothing 40 years ago. I mean, I was a wet behind the years college student, aeronautical engineer got in a carpool with Gabelli and Cooperman, got fascinated by markets, which I had been a little bit interested in before. But I didn't know Diddley. So everything, everything you know today. Everything.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Just get some job in an industry. I would not come into this industry fresh out. I didn't. I went and worked in the aerospace industry for three years.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, for sure you don't bet against it, and you should bet with it. And they're going to be superior returns for people who fully understand it. Right now, the envy factor is worked in, and so you're seeing all these comments on the unicorns and all that kind of stuff. 10% of the unicorns will work, but there'll be monster companies. And I think that's the wrong focus. There is no... There is no changing these trends. So the amount of liquidity in the system is going to continue to increase, the amount of growth is going to diminish. The growth is going to shift from old ways of doing things to new ways of doing things. And there's huge opportunities for me in what I now do. God knows if there would be any opportunities in what I used to do.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Than what I ever used to do. So, you know, when you say what's going to go on in the future, I think that those trends are going to continue. I think this innovation that we're seeing, there's no stopping it. There's no stopping.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Is that a measurement problem? I think we have good productivity. I think the economy is changing rapidly and the productivity in the areas that generate growth, I think the productivity is good. And then in the areas that don't produce growth, capital is being returned. So the capital part is more productive. So where wash in liquidity and there's no worldwide, there's not a lot of growth. In the US, the growth is obviously much slower than it used to be. So somebody has to manage all of that money. And you're not going to manage it by giving it to a guy like me back 30 years ago who's going to buy market caps under 200 million. So, you know, you go to, you know, Ray Dalio's got a great engine and other people have great engines. So you go to these algorithmic kind of things that are more formulaic.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I think you're in this fascinating. I mean, one of the reasons I drifted to venture capital is because Markets have become the economy has matured. So we have huge amounts of Social Security, pension funds, savings plans. IRA's 401ks, Foundations Trust, and anybody that said we're just awash in liquidity. And so it's got to go someplace. So it needs a big engine solution to how do you intelligently manage all these assets. Plus corporations in the US at least. The one good thing about activism and all the other stuff is it's formed forced productivity that keep increasing in the United States, which has not been happening in the rest of the world.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“You know, I like, obviously, I like engineering enough, but I like the discipline of it and the logic of it. But when you added to that the market and the uncertainty and the ability to try and outguess other people along with data, that became really exciting. It wasn't because my dad wasn't an electrician and I wanted to become a billionaire or something. Farthest thing from my mind. It was just otherwise, it just happened. It happened.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“But it also means that I was a late bloomer because I put in 17 years before I started getting really paid back for apprenticeship. I paid my dues. But I did it when I did it. I did it because I loved it.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, if I had been, you know, I knew the play, you know, when the rates were up near 20% at the end of that period. And, you know, we've had the biggest bond bull market ever. 30 years from 82 to 80, 82. You could have bought zero coupons and paid no interest and made a fortune. But I didn't do that. So I stuck with a stock thing. That's worked out. That's worked out.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Stay at zero forever. But a lot of people come in and one of my mentors, there was a mentor that I forgot to mention, but said, you know, had the expression, which others have had, don't confuse brains with the market. I really believe that. But back then, you didn't just come into the market and the averages went up because the government decided they should go up or whatever's going on right now. Back then, you had 15 years of nothing. And you had to survive. And”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“And those are my formative years. So now, you know, you come in, the Fed keeps interest rates at zero, assets get inflated.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“82 people started, you know, so is that luck or is that I followed what I thought my passion was? I don't know. I mean, I guess there's an element of luck to it. So I got there at the beginning of the cycle. Beginning of...”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“The more significant I came down to Wall Street in 67. And, you know, there was the lost generation. Nobody came down to Wall Street in the 30s, 40s, 60s.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Who I worked with there. So it was really more my colleagues than it was. And sometimes you learn as much from colleagues as you do. For sure.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I don't know if you could say mentor, but influence. So Byron Wing was. And Byron's been an investor or was an investor when I had funds. From the very beginning, we had offices next to each other. I eventually came to work for Pequot as a chief strategist when he left Morgan Stanley. He's now at Course at Blackstone. So Byron was one of them. There's unfortunately a fellow just passed away, but Mickey Strauss, who”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“They sold out to a Dutch bank, but I was the first hire after the partners opened the doors. Stayed there for 15 years, manage firm capital, had a pretty good record for five years, and went out and started the fund. So the investing part of it was a combination of my first job and then the venture experience at Weiss Peck and managing money. And I learned a lot about money management and cycles and money management. I learned a lot. And I learned a lot by managing Partner's Capital.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I think GE bought it and then sold it. But it disappeared. It was a great firm, but it disappeared. I went from Kidder To a small firm by the name of Lombard Vitalis Pagadincia and Nelson, which doesn't appear in any of the bio stuff any longer. It was there for all of one year. And then Weiss Peck and Guerre was starting up. He was a complete startup.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Not exactly a small firm. Then I go down to Wall Street and I join Kidder, which was a substantial firm at that time. And Kidder eventually.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Who had a similar mindset, a similar approach. And so I would say that that influenced me. And then I've always worked for a smaller forever. You are what you are. So, you know, my first job at a college was Lockheed, which...”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I got out of Columbia and interviewed around and I interviewed a kidder, which you mentioned was the first job. There was a guy at Kidder at the time, Tom Folger, who was an MIT grad, who was director of research. He had hired about six months earlier a guy named Bob Johnson to follow computers, MIT, Harvard Business School. Right. And he hired me. And we formed the first sort of group. It was unheard of back in 67, 68, 69. And that was a kick. So, you know, if I had gotten... Recruited to follow the energy industry, I probably would have become a deep value energy buyer or something. I don't know. But I got thing with these guys who...”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“And he calls from the airport in Nairobi and they tell him where the markets are. And he says, don't joke with me. Right. This is too serious to form. We're not kidding you. This is where things are. Yeah.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I had a friend who once went to Africa for two weeks, came back and the crash of 87 had occurred, and he knew nothing about it during the whole time. Really? That memory stayed with me. It's like what I do and be.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“You're looking down on the clouds, but being a hedge fund guy, I, of course, had my satellite phone, and at the top of the mountain, I had to call in to get quotes”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, that's the interesting thing. The last day you wake up at 10, 11 at night, I can't remember exactly when, because you want to walk up the glacial moraine while it's frozen so you don't slide back. You get to the peak at 6.30 in the morning when the sun's rising. It's a spectacular view. Then you go back down to the camp that you're just abogging straight down? You have a hard time lifting your legs at this point. Oh, really? I mean, the quads are just aching. Exhaust. And so you stop at 15,000 feet where you were the night before you sleep for two hours and then you go down to 12 or 10. I can't remember.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yes, it wasn't strenuous preferring, but it was prefering. But there are two ways to go. And I've forgotten the names of the trails. You can go straight up the spine of the mountain. You can loop around. Which way did you go? The ladder becomes at 59. I wanted to acclimate as slowly as possible. How long did it?”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“And all sorts of terrible things. Yeah, no, I didn't want to be miserable, but this was not quite miserable. How long did it take?”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I climbed for my 59th birthday. I climbed Kilimanjaro. Oh, really? Yeah, and the locals have this expression pole, which means slow.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I'm very happy about the decision I made. It's nothing you like to go to your grave with, you know, and have your grandkids Google and find out about. But I was convinced at the time it was the right decision and I'm convinced. Totally.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“And, you know, there's really not much to say about it other than what I said at the time, which is this is too distracting. And that actually was a factual statement. It was extremely distracting. There were many things I thought I could do in my life. I was 68 years old to fight from that point on would have taken another three to five years. And so if I had one who's going to give money to a hedge fund guy who's in his early 70s, it was just, it was a ludicrous battle to fight. And I thought I had a lot more interesting things to do with my life.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“They dropped it originally. They dropped it, and there was a congressional hearing, and they actually made their notes available, their closing document, which is an internal thing. And I'm told by a lawyer this first time ever. And then it got reopened, and it sort of got reopened right when Adolf happened. So you can everybody's going crazy. You can come to your own conclusions as to what was going on. The case had to do with Microsoft, which is the most...”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“For sure. I did one of those settlement things with the SEC, neither admitting nor denying guilt. And that was after the case was reopened.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I know Mark before Mark made his first fortune, we worked together on a private investment I made. He's a very smart guy. He's obviously a very outspoken guy, very colorful guy. He was managing his own personal money. He didn't have the responsibility of managing money for fiduciaries and have a lot of employees and everything. So I obviously am going to approach this in a far different way. I did not.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“But I learned so much from going there about applying yourself, overcoming obstacles. It's not an easy place. No, no, it's a very...”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I have enough physics. My best friend as an undergraduate was a brilliant guy who ended up being chairman of the Biomedical Engineering Department at Hopkins for 17 years world renowned. And he helped me get through. He truly helped me get through. And whenever I would say I was really a very mediocre student at MIT, he'd say, oh no, but later on when you started taking religion and political science, you can help me. You really knock the ball out of the park. And I said, I don't think that's what MIT is all about. Comparative religious.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“And became a huge problem in Fukushima. So we as a small startup company, we're the only ones who were able to get into Fukushima and help. Oh, really? And so something that was going to be like, you know, growing very slowly at first just.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“That enables you to bury it and store it. We're not all the way there yet, but in the process, we developed a media that will enable you to take cesium out of water.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“No, that's the traditional old way of doing it. And so we actually, another company we helped get started is in nuclear remediation. It's called Curion K-U-R-I-O-N.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, an opposition to nuclear weapons, but also nuclear power plants because they were sort of. Hand in hand. They just about. Two months ago, reversed their position and said nuclear energy is the solution because there's no carbon dioxide. So if you live long enough, you watch all these convoluted, everything comes around. And, you know, it depends on what the priority is and what the new religious zeal is.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Oh, it's terrific. It's terrific. And so, you know. The people who believe that you should, you know, like, so the union of concerned scientists, which was born about 30 years ago about nuclear.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“It's all too complicated. And you're never, as you said, you will never change people's minds about this because it's become a religious fight. We're the only country ruled by five million people a year die from burning wood. I mean, so.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“He's a very responsible guy, and they're responsible people on the other side. I don't know. I mean, there are plenty of people arguing that, you know, that matter. All I know is I think that I can support it who have a solution to it. I'd rather waste my brain cycles and energy and money on that rather than just discussing it.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Because of anything. I have friends who are on either side of this one, and I read it all and I sit on this MIT Energy Initiative board. At MIT, they have this guy Richard Linsen, who is a moral acclaimed climate scientist who doesn't believe it. There are many others like Anson.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“A genuine climate change. I think the fact that there's so much carbon dioxide in the atmosphere is a really, really bad thing.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“One of the reasons that we have emphasized things like fusion energy, solar, things like that are because they address the basic problem, which is that unless you have cheap electricity or a number of other things, you don't grow world income. And if you don't grow world income, everybody fights over the pie. And if everybody fights over the pie, you're going to have a terrible terrible world system. So I want to help people grow the pie. I would like to help in some of this carbon stuff if I can. I'd like to give part of the money back. I'll like to keep some of it to give everybody the opportunity to participate in that. It is then up to government to figure out the rest of it. And I see absolutely no movement towards coming up with any logical solutions to that.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Savvy, they lack the skills. They might have the interest, but they're not going to be able to implement. And I believe that everybody should give it a chance to. So I will spend as much money as I can to try and help that. But, you know, there are a lot of people in this world, and not everybody can start these things. So, you know, there are real social policy issues about how do you fix that? I'm not a social scientist, so I don't know. But I...”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Maybe that's an interesting. Well, it's both. Some people will never be able to participate in this new world. Given all of the advantages.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“They're the people who can't really relate to this kind of stuff really don't like it and therefore draw their own conclusions. They're not based on anything factual. I mean, the problem with all of this, of course, is the income divide between the people who can do what you just described and the people I've been describing. In terms of who you're”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Oh They've told me up at MIT that in the generation or two ago, probably two, the average age of an MIT graduate who started a company was 42 years old.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“There's a vast market, and these guys, I think, have the solution to that. I'm on the board of that one. Yeah. Oh, that's interesting. So there's great stuff out there. So I am not one of these people who believes, oh my God, the world has a million problems. Let's stick our head in the ground and let's have a million problems.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“That's old school, and it's very expensive for wheel. If you can get it down with a simple system so that it would, you know, sell for under $2,000 per automobile.”
2015-09-26 · Masters in Business · An Interview With Arthur Samberg: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source