Alan C. Greenberg Quotes, born Alan Courtney “Ace” Greenberg on September 3, 1927, in Oklahoma City, Oklahoma, was an American businessman, philanthropist, and former chairman of Bear Stearns, a global investment bank. Starting as a clerk in 1949, Greenberg rose to CEO in 1978 and chairman in 1985, known for his risk-taking trading prowess and quirky, cost-conscious memos. His leadership emphasized hustle, frugality, and hiring ambitious talent, growing Bear Stearns into a Wall Street powerhouse until its 2008 collapse. These 15 quotes—sourced from his book Memos from the Chairman, interviews, and public statements—reflect his insights on business, discipline, and success, capturing his witty and pragmatic spirit.
15 Alan C. Greenberg Quotes
- “The only statistic I care about is return on equity. After many sessions with some of our business school graduates, I think they have helped me understand the secret to improving our R.O.E. It seems that if we increase revenues and cut expenses, return on equity goes up and that is what makes me happy. Please make me happy!” (Memos from the Chairman, 1996)
- “It is up to all of us to fight our unrelenting enemies—complacency, overconfidence and conceit.” (Memos from the Chairman, 1996)
- “My wife made me get a cellphone, which I keep in my briefcase. I’ve never used it.” (Interview, BrainyQuote, n.d.)
- “When the going gets tough, the tough start selling.” (Memos from the Chairman, 1996)
- “I was just shown the results for our first quarter. They were excellent. When mortals go through a prosperous period, it seems to be human nature for expenses to balloon. We are going to be the exception. I have just informed the purchasing department that they should no longer purchase paper clips.” (Memos from the Chairman, 1996)
- “The firm has always been very understanding when errors are made. We will not be understanding if the error is not caught because of subsequent stupidity and laziness.” (Memos from the Chairman, 1996)
- “Our experience has been that the best time to hire productive people is when conditions are difficult.” (Memos from the Chairman, 1996)
- “I’m very good in math, and I’m a logical thinker. I don’t get wrapped up in things or even wrapped up in myself.” (Interview, BrainyQuote, n.d.)
- “The strength of the strongest chain is determined by its weakest schmuck.” (Memos from the Chairman, 1996)
- “My father was the youngest of six brothers, and he was the brains. I never thought he was making what he should have. He had to split it with five brothers. So I made up my mind: I was going to go on my own and make my own money.” (Interview, BrainyQuote, n.d.)
- “We must continue to watch our expenses like a greenberg so our bottom line looks like a combination of Miss America and Haimchinkel Malintz Anaynikal.” (Memos from the Chairman, 1996)
- “You are aware that I have said for years that complacency is our greatest enemy.” (Memos from the Chairman, 1996)
- “The developments at Bear Stearns certainly seem to be positive and as a result we will, of course, intensify our surveillance of all positions and expenses. You know how I feel about the dangers of overconfidence.” (Memos from the Chairman, 1996)
- “PSD stands for poor, smart and a deep desire to become rich.” (Memos from the Chairman, 1996)
- “Let us restate to our associates that they are our first line of defense against fraud and waste.” (Memos from the Chairman, 1996)
Alan C. Greenberg’s quotes are a bold mix of humor, frugality, and fierce business acumen, inspiring leaders and hustlers to stay sharp, cut waste, and seize opportunities. Which one’s got you ready to watch expenses like a hawk or chase your own success? Drop it in the comments and keep Ace’s Wall Street legacy thriving!
Emma Thompson
Hi, I'm Emma Thompson, founder of MyLittleDesire. I share relationship advice, love quotes, and thoughtful gift ideas to help you express your feelings and strengthen your bonds. Let's celebrate love together!
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