“ISIS has become quite a self-financing terrorist network with their theft of oil, selling it on the black market with their destruction and seizure of antiquities, selling that on the black market, with their taking over Mosul and raiding the banks. They’ve got a source of funding, so I don’t really know. But I know that the — that Saudi individuals have certainly funded other related terrorist groups over time and also exported a lot of Wahhabi radicalism by kicking out or sending out imams and teachers to set up schools and mosques to preach that particularly harsh brand of Islam. So the Saudis have a lot that they can do to both stop and then to help.”

Presidential campaign (April 12, 2015 – 2016), Speech on fighting ISIS (November 20, 2015)

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Hillary Clinton312

American politician, senator, Secretary of State, First Lady 1947

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“I think that the Saudis have a multiple level of responsibilities, first and foremost, stopping their own citizens from continuing the financing for extremists. And, you know, Saudi financing is still a major source of revenue for terrorist groups inside Syria, inside Iraq elsewhere.”

Hillary Clinton (1947) American politician, senator, Secretary of State, First Lady

Presidential campaign (April 12, 2015 – 2016), Speech on fighting ISIS (November 20, 2015)

“How can you say Saudi Arabia is a great partner in fighting terrorism when they are fueling and funding terrorist groups in Yemen?”

Tulsi Gabbard (1981) U.S. Representative from Hawaii's 2nd congressional district

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Source: No Logo: Taking Aim at the Brand Bullies 1999, Chapter Five: "The Patriarchy Gets Funky"

“I’m tired of being told that out of “tolerance for other cultures” we must let Saudi Arabia use our oil money to fund mosques and madrassa Islamic schools to preach hate in America, while no American group is allowed to fund a church, synagogue or religious school in Saudi Arabia to teach love and tolerance.”

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“Any graduate of the ___ Business School should be able to beat an index fund over the course of a market cycle.”

William F. Sharpe (1934) American economist

Statements such as these are made with alarming frequency by investment professionals. In some cases, subtle and sophisticated reasoning may be involved. More often (alas), the conclusions can only be justified by assuming that the laws of arithmetic have been suspended for the convenience of those who choose to pursue careers as active managers.
William F Sharpe, "The arithmetic of active management." Financial Analysts Journal 47.1 (1991): 7-9.

“But to hear Kennedy when he was grandstanding in front of the McClellan Committee you might have thought I was making as much out of the pension fund as the Kennedys made out of selling whiskey.”

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“Yet another hedge fund manager explained Icelandic banking to me this way: you have a dog, and I have a cat. We agree that each is worth a billion dollars. You sell me the dog for a billion, and I sell you the cat for a billion. Now we are no longer pet owners but Icelandic banks, with a billion dollars in new assets.”

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“Most products are ugly. The harsh reality is that in many of these markets, form follows funding. And that products go where the market takes them.”

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“I said it to you once, had we taken the oil -- and we should have taken the oil -- ISIS would not have been able to form either, because the oil was their primary source of income. And now they have the oil all over the place, including the oil -- a lot of the oil in Libya, which was another one of her disasters.”

Donald J. Trump (1946) 45th President of the United States of America

2010s, 2016, September, First presidential debate (September 26, 2016)

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