We always see shifts in employment. If you think about it, if you go back to 1800, it took 80 percent of the labor force to produce enough food for the country. Now it takes less than 3 percent. Well, the truth is that market systems move people around.

A pin lies in wait for every bubble and when the two eventually meet, a new wave of investors learns some very old lessons.

Investing is simple, but not easy.

That's the reality of what they're going to sell them to the Treasury for.

We really can say no in 10 seconds or so to 90%+ of all the things that come along simply because we have these filters.

The optimum portfolio depends on the various expectations of choices available and the degree of variance in performance which is tolerable. The greater the number of selections, the less will be the average year-to-year variation in actual versus expected results. Also, the lower will be the expected results, assuming different choices have different expectations of performance.

We're paying maybe 25 percent of the income tax, but the payroll tax is over a third of the receipts of the federal government. And they don't take that from me on capital gains. They don't take that from me on dividends.