You have hedge funds and people like that buying these assets to yield 15 or 20 percent, I mean, that's the buyer for these people that are trying to unload them.

Things you like to do should be a hobby of yours, but things the world does should be a business of yours.

An irresistable footnote: in 1971, pension fund managers invested a record 122% of net funds available in equities - at full prices they couldn't buy enough of them. In 1974, after the bottom had fallen out, they committed a then record low of 21% to stocks.

I prefer liquor store robbers with hungry kids to companies that locate offshore to avoid U.S. taxes.

America should stand for more than just wealth.

It's easy to identify many investment managers with great recent records. But past results, though important, do not suffice when prospective performance is being judged. How the record has been achieved is crucial.

The most important investment you can make is in yourself... nobody can tax it or take it away from you.