If we have a strength, it is in recognizing when we are operating well within our circle of competence and when we are approaching the perimeter.

It's never paid to bet against America. We come through things, but its not always a smooth ride.

For some reason people take their cues from price action rather than from values. Price is what you pay. Value is what you get.

Do not take yearly results too seriously. Instead, focus on four or five-year averages.

Anything can happen anytime in markets. And no advisor, economist, or TV commentator-and definitely not Charlie nor I-can tell you when chaos will occur. Market forecasters will fill your ear but will never fill your wallet.

Would your reply possibly be this? Well, it all depends on what my tax rate will be on the gain you're saying we're going to make. If the taxes are too high, I would rather leave the money in my savings account, earning a quarter of 1 percent. Only in Grover Norquist's imagination does such a response exist.

I have no idea on timing. It’s easier to tell what will happen than when it will happen. I would say that what is going on in terms of trade policy is going to have very important consequences.