There are tons of people who are late to trends by nature and adopt a trend after it's no longer in fashion. They exist in mutual funds. They exist in clothes. They exist in cars. They exist in lifestyles.

The corporate killer downsizing is directly responsive to what the mutual funds have wanted.

Funny, but after trading for more than 15 years, I still am capable of forgetting a cardinal rule: The paper you own, in the end, will be intertwined with the fate of the 30-year bond.

Every once in a while, the market does something so stupid it takes your breath away

I think that there are changes that have occurred in technology that make is that more people can have the same level of information that I have. My advantage is that I'm very good at interpreting the information.

Remember, I am neither a bear nor a bull, I am an agnostic opportunist. I want to make money short- and long-term. I want to find good situations and exploit them.

I invest in funds myself even though I run my own fund for my daughters.