The quality of the medical care delivered, including the pharmaceutical industry, has improved a lot. I don't think it's crazy for a rich country like the USto spend 15% of GDP on healthcare, and if it rose to 16-17%, it's not a big worry.

The normal expectancy of the average investor - for example, the pension funds of AT&T or IBM - is 6% for a long time.

The game of investing is one of making better predictions about the future than other people. How are you going to do that? One way is to limit your tries to areas of competence. If you try to predict the future of everything, you attempt too much.

The wise ones bet heavily when the world offers them that opportunity. They bet big when they have the odds. And the rest of the time, they don't. It's just that simple.

I call myself the assistant cult leader.

Opportunity comes to the prepared mind.

The best armor of old age is a well-spent life preceding it.