Successful investing is about having people agree with you ... later.

Every debt is ultimately paid, if not by the debtor, then eventually by the creditor.

I believe that there is an important kernel of truth in the idea that financial errors recur every other generation.

Growth at an exceptional rate is a red flag in banking. It is hard enough to manage an ordinary bank; to control a sprouting weed is well-nigh impossible. If loans are expanding too quickly, the lending officers have probably been saying 'yes' too frequently.

[C]apitalism without financial failure is not capitalism at all, but a kind of socialism for the rich.

The 1980s are to debt what the 1960s were to sex. The 1960s left a hangover. So will the 1980s.

Successful investing is about having people agree with you ... later.