You can't run the economy on BMWs alone. If the average person is in a pickle, how do you have a healthy economy?

The stock market is overpriced. Everything is overpriced. Junk is king.

I believe the only things that really matter in investing are the bubbles and the busts

Although value is a weak force in any single year, it becomes a monster over several years. Like gravity, it slowly wears down the opposition.

Some societies are also more optimistic than others: the U.S. and Australia are my two picks Tell a European you think there’s a housing bubble and you’ll have a reasonable discussion. Tell an Australian and you’ll have World War III. Been there, done that!

Volatility is a symptom that people have no idea of the underlying value.

I think I'm right-brained, incapable of managing my way out of a brown paper bag.