Pay per click was just the beginning. The real evolution is pay per action.

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

When you're underperforming the index, you go home at night and cry in your beer. It's not fun, but who said this business should be fun. We're too well paid to hang our heads and say boo hoo.

Be cautious and content with low positive returns in 2015. The time for risk taking has passed.

Bond investors want growth much like equity investors, and to the extent that too much austerity leads to recession or stagnation then credit spreads widen out - even if a country can print its own currency and write its own cheques.

Whenever I read the newspaper, I say to myself, 'At least my wife loves me.'

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