John Gutfreund

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.

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.

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

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

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.

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