No one spends someone elses money as carefully as he spends his own.

Bill Gates and Warren Buffett have their 'Giving Pledge,' where billionaires promise to give away the majority of their wealth when they die. My Social Security Pledge is better - to give money to good causes when you are alive. Besides, more Americans can participate.

The fundamental flaw in Social Security and Medicare is that they violate the 'welfare principle' in economics. The welfare principle forms the fundamental basis of all charitable work in churches and other private organizations: assist those who need help, and equally important, don't assist individuals who can take care of themselves.

I've felt for some time that economics needs to be taught differently by economists who actually have had experience making a payroll or investing on Wall Street. When economics is taught by pure academics, watch out.

Balance in life is the key, as Aristotle taught us. Nobody likes a naive Pollyanna, but neither do we like to be around people who are constantly complaining and finding fault.

Today's political leaders demonstrate their low opinion of the public with every social law they pass. They believe that, if given the right to chose, the citizenry will probably make the wrong choice. Legislators do not think any more in terms of persuading people; they feel the need to force their agenda on the public at the point of a bayonet and the barrel of a gun, in the name of the IRS, the SEC, the FDA, the DEA, the EPA, or a multitude of other ABCs of government authority.

The worst thing that can happen to an investor is to make money on his first trade; he thinks investing is easy