If you put Canada into $1.5 trillion in debt and interest rates go up just 200 basis points, you cannot provide the services to 36 million people that were guaranteed to them in the social contract they have with Canada. That's a very, very scary prospect. You can't burden this economy with that much debt. The risk you take on is insurmountable. You have to assume for the next 50 years that rates don't go up? That's insane. That's irresponsible. That's stupid.

You either make it illegal, in which case you support a huge underground economy or you tax it within the limits people can afford.

If I don't deliver a majority mandate in 2019, fire me.

I do not own a single security anywhere that doesn't pay a dividend, and I formed a mutual-fund company with that very simple philosophy.

Imagine how foolish you'd look if, like one clever salesman who once pitched to me, you tried to license your product to a big industry player without knowing they just launched a competing product. With the right background research, he could have avoided that and other landmines - and so can you.

If you want a friend, buy a dog.

Until Americans feel that their core asset - their homes - are stabilized, they are not going to have the animal spirits and they will continue to have less buying power.