Everyone said, 'You can't lose money in real estate, because they're not making any more of it.' Hmmmm. Where did everyone go wrong?

Stock prices aren't real things. They're just froth on a wave. The wave is the only real thing, which investors forget when they're watching the ticket slither by.

You normally don't get a margin call unless your securities, minus the debt, are worth 30% or less of their nominal market value.

Everyone can get a little sloppy with cash and it's smart to notice. But what's squeezing you is the big stuff you ladle onto your credit cards.

No one knows what stocks will do tomorrow, but the evidence is clear as to how they'll perform over 10 or 20 years. They will almost certainly go up.

The rule on staying alive as a forecaster is to give 'em a number or give 'em a date, but never give 'em both at once.

The best real-estate investments with the highest yields are in working-class neighborhoods, because fancy properties are overpriced.