Tweeting

It personally gives me an edge when other people are not paying attention to reading and thinking, and are instead on their phones. It means that I gain knowledge from reading a few 10-K’s while others are tweeting what they had for breakfast.

Economic medicine

Economic medicine that was previously meted out by the cupful has recently been dispensed by the barrel. These once unthinkable dosages will almost certainly bring on unwelcome after-effects. Their precise nature is anyone’s guess, though one likely consequence is an onslaught of inflation.

Be lovable

The only way to get love is to be lovable. It’s very irritating if you have a lot of money. You’d like to think you could write a check : “I’ll buy a million dollars’ worth of love.’ But it doesn’t work that way. The more you give love away, the more you get.

Taxes

If anything, taxes for the lower and middle class and maybe even the upper middle class should even probably be cut further. But I think that people at the high end – people like myself – should be paying a lot more in taxes. We have it better than we’ve ever had it.

Wrong kind of soil

I personally think that society is responsible for a very significant percentage of what I’ve earned. If you stick me down in the middle of Bangladesh or Peru or someplace, you’ll find out how much this talent is going to produce in the wrong kind of soil. I will be struggling thirty years later. I work in a market system that happens to reward what I do very well – disproportionately well.

Put your mouth where your money was

I don’t like to opine on the stock market, and again I emphasize that I have no idea what the market will do in the short term. Nevertheless, I’ll follow the lead of a restaurant that opened in an empty bank building and then advertised : “Put your mouth where your money was.” Today my money and my mouth both say equities.

Equities will almost certainly outperform cash

Equities will almost certainly outperform cash over the next decade, probably by a substantial degree. Those investors who cling now to cash are betting they can efficiently time their move away from it later. In waiting for the comfort of good news, they are ignoring Wayne Gretzky’s advice: “I skate to where the puck is going to be, not to where it has been.”