When people get at each other’s throat, the rich and the poor and the Left and the Right and so on, and you have a basic breakdown, that becomes very threatening.
The main reason I write the daily observations is because I want to know where I’m wrong. So lots of times if somebody points something out it helps me, and I want to have a diversified bet of uncorrelated bets.
Principles are what allow you to live a life consistent with those values. Principles connect your values to your actions.
Over the long run, the price of gold approximates the total amount of money in circulation divided by the size of the gold stock. If the market price of gold moves a long way from this level, it may indicate a buying or selling opportunity.
People who worry about looking good typically hide what they don’t know and hide their weaknesses, so they never learn how to properly deal with them and these weaknesses remain impediments in the future.
It all comes down to interest rates. As an investor, all you’re doing is putting up a lump-sump payment for a future cash flow.
Though how nature works is way beyond man’s ability to comprehend, I have found that observing how nature works offers innumerable lessons that can help us understand the realities that affect us.
I believe that one of the best ways of getting at truth is reflecting with others who have opposing views and who share your interest in finding the truth rather than being proven right.
Don’t worry about looking good – worry about achieving your goals.
If it didn’t happen in your life before, then you’re not paying attention. You don’t think it’s possible. But almost all important events never happen in your life before.
I’m going to give away a lot more than half my money. I’d be happy to give that to the government if the government put together programs that were like I’m giving away to charity, in which I believe the money is effectively used to help people.
Nature is a machine. The family is a machine. The life cycle is like a machine.
Look at what caused people to make a lot of money and you will see that usually it is in proportion to their production of what the society wanted.
Know what your people are like, and make sure they do their jobs excellently.
In China anything less than 6% growth is a recession meaning that it also causes financial problems and it’s disruptive and it’s a problem.
Constantly probe the people who report to you, and encourage them to probe you.
I’m just saying that if you understand how the economic machine works, it just works like a machine. There are cause-effect relationships.
I pay about a third in taxes, I give away about a third, and I follow the law.
To make money in the markets, you have to think independently and be humble.
I believe that dreamers who simply imagine things that would be nice but are not possible don’t sufficiently appreciate the laws of the universe to understand the true implications of their desires, much less how to achieve them.