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

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

[T]he first bad bank loan was no doubt made around the time of the opening of the first bank.

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.

Central banks have gotten out of the central banking business and into the central planning business, meaning that they are devoted to raising up-if they can-economic growth and employment through the dubious means of suppressing interest rates and printing money. The nice thing about gold is that you can't print it.

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

Hope sustains life, but misplaced hope prolongs recessions.