Eike Batista, 8th richest man in the world, and his 'idiot-proof' oil assets

The difference between us is really being in the shallow waters of Brazil. So, shallow waters implies low cost production which is spectacular. If oil is today $120, $18 [cost per barrel extracted] is an 85% EBITDA margin. We call it 'idiot-proof assets.'

~Eike Batista, chairman and CEO, EBX Group, CNBC interview, May 4, 2011

Barry Ritholz on reasons for being bullish on equities

What is keeping us long?

None of the usual technical or internal signs of a major correction are present (yet). Supply continues to be constrained, selling pressure is light to moderate, breadth and liquidity are strong.

Giving the markets the benefit of the doubt has been the winning play so far. We expect this to continue to work until it doesn’t.

Hopefully, I will be able to warn you in advance before markets get too far gone.

Warren Buffett on the reported death of Osama bin Laden

Well, it's always been a mistake to bet against America, since 1776.  And, you know, we take our body blows from time to time, but this country always comes through.  And when we get united, get out of the way.  It--and we are--at moments like this you particularly see that.  And of course, after 9/11 we saw it.  But I've always had enormous faith in this country to do anything, whether it's in economics or whether it's in liberating people or whatever it may be.  And this is just one more dramatic illustration of when the United States sets out to do something, it gets it done.

~ Warren Buffett, chairman, Berkshire Hathaway, CNBC's Squawk Box, May 2, 2011

Jim Paulsen on what the reported killing of OBL says to the rest of the world

We've cut the head of the snake off this organization at the same time that we're almost in the process of continually remaking the Middle East in general, with a breakout towards embracement of democracy, which will ultimately lead to more capitalism... there's just a sense of this thing finally turning in the right direction. And I wonder if a ways from now we'll look back and this will be a flag in the sand where we finally turned the corner, even though it's not necessarily the event that did it, it might be the event that marks when Americans in general and investors in general are feeling better.

This morning America is back, and we don't have to take crap from China or North Korea or anybody. That's a good feeling overall.

~Jim Paulsen, chief investment strategist, Wells Capital Management, CNBC's Squawk Box, May 2, 2011

Jim Paulsen on the reported killing of Osama Bin Laden

It is a great morning. In some ways, I think that in some ways what we're doing in the last couple of years in this country financially, in the financial markets, is rebuilding confidence, which we utterly destroyed in the 2008 crisis. And, a big part of that is to effect the mood and confidence and I think this is just what the doctor ordered for that. You know, it's not going to have a dramatic impact this morning that's going to last, but I think overtime it'll have a greater impact than you think.

The US has been battered for a decade or more with the failures of WMDs, and backing out of Iraq and to have a great success on a national scale puts us back in play. I think it's just the type of thing that adds to the confidence to spend some of the cash flow, for example, or to feel better about your portfolio and about equities in general.

~Jim Paulsen, chief investment strategist, Wells Capital Management, CNBC's Squawk Box, May 2, 2011

Charlie Munger speaks out against his own investment in GS

Wall Street to some extent is deliberately trying to profit from sin, and I think it’s a mistake. Why should an investment banker go to Greece to teach them how to pretend their finances are different from what they really are? Why isn’t that a perfectly disgusting bit of human behavior?

~Charlie Munger, Vice-Chairman, Berkshire Hathaway, "Wall Street Bankers Share Blame for Europe Crisis, Berkshire’s Munger Says", Bloomberg, May 2, 2011

Ben Stein on gold

I don't recommend the small individual investor buy individual commodities at all. I've been a pessimist on gold, and I still don't think gold deserves to be at the price it's at. I just don't see why it is considered so valuable. It earns no interest. It's just a passive, inert metal. It's like an obsession, it's like a mania, to have it. And I don't see what the value is

~Ben Stein, author, actor, investor, "Q&A with Ben Stein", Associated Press, May 1, 2011