John Gutfreund quotes:

Commercial banks are very good for certain businesses, like loans and guarding other people's money. They're not great investors or entrepreneurs.

Proprietary stock-index arbitrage is but one aspect of program trading. Arbitrage will take place whenever there is an imbalance created in one or more markets that are similar.

The media, the polls and our legislatures fortunately have short attention spans.

People in Philadelphia are a world apart from New York. They're very different from people in the New York scene. The New York scene wants your visibility and wants your money.

Shareholders share in the downside and not necessarily in the upside; that's the whole story.

I thought that ending Glass-Steagall was a mistake.

I am more rich in goods than I am in money.

I never thought of myself as a king. People really want you to be their deity. They forget the fact that you are a person who has feelings and doubts.

I have never been a social lion; I was misidentified as one because I have a very attractive second wife.

I don't have many regrets. I regret mistakes, particularly those that damage other people, and we've all made some of those. But I'm not sad about change.