When the tide goes out, you get to see who's swimming naked. PIMCO has had its bathing suit on for a long time

I would admit Im an introvert. I dont know why introverts have to apologize.

Bonds despite their ridiculous yields will not easily be threatened with a new bear market.

Both from the standpoint of stocks and bonds, an investor wants to go where the growth is.

Companies typically borrow money at less than their return on equity and therefore compound their return at the expense of lenders.

Do you really like a particular stock? Put 10% or so of your portfolio on it. Make the idea count … Good [investment] ideas should not be diversified away into meaningless oblivion.

We are witnessing the death of abundance and the borning of austerity, for what may be a long, long time.