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Attacking Iraq would be madness.
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Teach your children or your grandchildren Chinese. It is going to be the most important language of their lifetimes.
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Right now I own shares of companies in 28 countries.
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I am dying to find a way to invest in both North Korea and Myanmar. The major changes in these two countries are among the most exciting things I see right now, looking to the future.
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Unfortunately politicians are not very sound people or they wouldn't be politicians.
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Get inside information from the president and you will probably lose half your money. If you get it from the chairman of the board, you will lose all of your money.
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Tough times helped many commodities producers become lean and mean through consolidation, mergers and cost-cutting. All that excess supply has been sopped up.
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Historically, there has been a bull market in commodities every 20 or 30 years.
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I did very little marketing. The key is to make your clients money. If you have a good track record, people will find you and knock on your door. Just make your clients money.
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I think this is also a great time to invest in private equity, helping companies grow from the ground up.
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When President Bush goes on television and says certain cultures hate us for our democracy and freedom, he's just wrong. Everywhere I went in the Middle East, everyone told me how much they loved America and Americans; the hatred is directed at American policy.
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You can no longer buy commodities at Merrill Lynch. My guess is many analysts and even executives are too young to know how profitable a hot commodities market can be. They will soon.
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If the current birth rate, which is the lowest in the major developed countries, continues, there will be no Japanese. Who will pay the enormous debt?
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Sometimes I think our central bank will keep printing money till we run out of trees.
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Index investing outperforms active management year after year.
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Commodities tend to zig when the equity markets zag.
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The price of a commodity will never go to zero. When you invest in commodities futures, you're not buying a piece of paper that says you own an intangible piece of company that can go bankrupt.
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The bottom line is this is not a war we want to get into. We can win the battle of Iraq, but that is not the war. It's not a war that can be won in the traditional sense. If we succeed in ousting Saddam Hussein, what then? Who is going to run Iraq afterwards? We cannot do it. The country is a mish mash of factions who hate each other.
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If you bail out every investment bank that gets in trouble, that’s not capitalism, that’s socialism for the rich.
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Do not buy the hype from Wall St. and the press that stocks always go up. There are long periods when stocks do nothing and other investments are better.
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When I was a young man working 14 hour days, I traded using outrageous and terrifying leverage. I was either very lucky, very smart or very dumb. That’s what terrifies people about commodities. Commodities themselves are no riskier than stocks. A stock on margin has more risk than a commodity fully paid for. It’s all about the degree of leverage.
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Bottoms in the investment world don't end with four-year lows; they end with 10- or 15-year lows.
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Most of my thoughts, you couldn't print.