The biggest public fallacy is that the market is always right. The market is nearly always wrong. I can assure you of that.
The Federal Reserve was not founded to bail out Bear Stearns or a few hedge funds. It was founded to keep a stable currency and maintain its value.
I don’t think there is a sound UK bank now, at least, if there is one I don’t know about it. The City of London is finished, the financial centre of the world is moving east. All the money is in Asia. Why would it go back to the West? You don’t need London.
Debasing your currency sometimes works in the short term, it has never worked in the long term and does not even usually work in the medium term. Lots of politicians like to do it because it is an easy way.
Get inside information from the president and you will probably lose half of your money. If you get it from the chairman of the board, you will lose all of it.
Many investors seem to have forgotten a hard reality: There are frequent periods when stock markets don’t do much.
Most of my thoughts, you couldn’t print.
The first loss is the best loss.
I think this is also a great time to invest in private equity, helping companies grow from the ground up.
Unfortunately politicians are not very sound people or they wouldn’t be politicians.
Index investing outperforms active management year after year.
Right now I own shares of companies in 28 countries.
Lady Luck smiles on those who continue their efforts.
If the current birth rate, which is the lowest in the major developed countries, continues, there will be no Japanese. Who will pay the enormous debt?
If you bail out every investment bank that gets in trouble, that’s not capitalism, that’s socialism for the rich.
Teach your children or your grandchildren Chinese. It is going to be the most important language of their lifetimes.
The City of London and Wall Street are not going to be great places to be in the next two or three decades. It’s going to be the people who produce real goods in charge – the farmers and the miners.
Beware of all politicians everywhere. They excelled at recess when they were in school but have excelled at little since.
Not one country in existence today has had the same borders and government for as long as two hundred years. The world will continue changing.
They wouldn’t be politicians if they knew what they were doing.
I don’t think I own any US stocks, if I do its very few, so few I can’t even remember.