He [Barack Obama] talked about deficit reduction. This got me he was talking about how the deficit's being reduced faster in the last 60 years. That's because he's collected more taxes. That's like bragging that you paid your rent after you robbed a bank. It makes no sense.
This week, the world gathers in Beijing for the 2008 Olympic games. This is the extraordinary moment China has been dreaming of for 100 years. People have been longing for this moment, because it symbolises a turning point in China's relationship with the outside world.
We want to use cash. The reason we haven't used our cash two years ago, we just didn't find things that were that attractive. But when people talk about cash being king, it's not king if it just sits there and never does anything. There are times when cash buys more than other times, and this is one of the other times when it buys a fair amount more, so we use it.
Why is it that we three hundred and thirty millions of people have been ruled for the last one thousand years by any and every handful of foreigners who chose to walk over our prostrate bodies? Because they had faith in themselves and we had not.
A low-cost index fund is the most sensible equity investment for the great majority of investors. My mentor, Ben Graham, took this position many years ago, and everything I have seen since convinces me of its truth.
But at sixteen the conscience rarely gnaws So much, as when we call our old debts in At sixty years, and draw the accounts of evil, And find a deuced balance with the devil.
I feel like I've been dealing with that building over the years because of the Broadway community, so I'm treating it in the same way - I've always tried to keep my personal life private. I didn't get into this business for notoriety or fame. I don't go to places to be seen and that's not going to change.
You have to transmit to them what its like being in the theater. And it has to come from somewhere inside you and not by being like what somebody did last year.
The real people who hold our civilization together are the maintenance people. If it weren't for them - pumping water out of subways, painting bridges to keep from rusting, fixing a steam pipe that is 70 years old - we'd be sunk. If we got rid of all the politicians and the policymakers in the world, the world would keep going. If you get rid of maintenance people, the whole thing breaks down.
If you expect to be a net saver during the next 5 years, should you hope for a higher or lower stock market during that period? Many investors get this one wrong. Even though they are going to be net buyers of stocks for many years to come, they are elated when stock prices rise and depressed when they fall. This reaction makes no sense. Only those who will be sellers of equities in the near future should be happy at seeing stocks rise. Prospective purchasers should much prefer sinking prices.