Government does not have magic powers. In fact, the opposite is true; it is the least effective agency invented by man.

The Nixonization of Obama has started. The Hooverization comes next.

There's nothing wrong with cash. It gives you time to think.

Government does not have magic powers. In fact, the opposite is true; it is the least effective agency invented by man.

The correct method for tracking the stock market is to use semilogarithmic chart paper, since the market's history is sensibly related only on a percentage basis. The investor is concerned with percentage gain or loss, not the number of points traveled in a market average. Arithmetic scale is quite acceptable for tracking hourly waves. Channeling techniques work acceptably well on arithmetic scale with shorter term moves.

Traders take a good system and destroy it by trying to make it into a perfect system.

I cannot morally blame all Americans for allowing, for instance, the birth of the Federal Reserve System and the money destruction that has followed. They are simply ignorant about it and don’t know what happened or what is happening. They think that prices go up rather than that dollars go down.