Defense is superior to opulence.
The lion's share of the bear market is over,. . . It's a two-part issue. Yes, the marketplace could be nasty. But there's a great deal of nastiness that's already happened in the bond market.
You don't get the attention of gluttons by starving anorexics.
The essence of the problem is that the war against inflation is over,. . . Ever since 1979 the Fed was fighting a war against inflation, and you always knew which way you wanted the inflation rate to go over the long run -- down.
The bond market is debating with itself what the intent of the Fed is. I don't think the Fed has a multi-step process. They are taking it step by step.
Rightly or wrongly, most Americans look at mortgage equity withdrawal as the closest thing to a free lunch.
Remember, benchmark performance -- beta -- can be had for virtually free; alpha is what active managers are paid to generate.
There is no fate that plans men's lives. Whatever comes to us, good or bad, is usually the result of our own action or lack of action.
Oh, how sweet it is to pity the fate of an enemy who can no longer threaten us!
Seeing ourselves as others see us would probably confirm our worst suspicions about them.
Finding and creating your life's work, even if it is entirely different from what you have done most of your life, will bring you more happiness and health than any other action you can take. If your primary responsibility in life is being true to yourself, that can only be accomplished by carrying out what you are called to do - your unique and special vocation. . . Your life's work involves doing what you love and loving what you do.