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As a bull market turns into a bear market, the new pros turn into optimists, hoping and praying the bear market will become a bull and save them. But as the market remains bearish, the optimists become pessimists, quit the profession, and return to their day jobs. This is when the real professional investors re-enter the market.
Ken Lay, the disgraced former chairman of Enron, found a way to escape his legal problems: He died after being convicted of fraud and conspiracy charges.
Regardless of what our national credit rating is, people will always want a roof over their heads, food on their tables, fuel for their cars, and clothes on their backs.
The problem is that the U.S. government is the biggest debtor in the world, and those depending on it to take care of them will only become poorer.
Many U.S. investors are already investing overseas rather than at home.
You do not have to be a rocket scientist to know that it is hard for a market to keep going up when more and more people are getting out.
The environmentalists say capitalism is killing our oceans, air, land, and forests. Capitalists argue that they provide food, fuel, and building materials for a growing world.
It's easier to aim to please and say what others want to hear than to form an opinion and fight for it, even if it means taking a risk or losing your job.
What I invest in, while not risky for me, may be too risky for most people.
Working hard to earn more money and then giving it away in higher taxes isn't financially intelligent, even if you do put some of it into a retirement account.
I explain the law of compensation like this: 'Returns are minimal in spite of massive effort at the start, yet returns can be massive with minimal effort over time.
Tax season always means a deluge of tax advice. Unfortunately, most of it is futile and lightweight.
This rise of the new global mega-rich is happening as established institutions are falling. The fall runs the gamut from the music business and traditional media to the Detroit automakers who find themselves obsolete, outmaneuvered, and out-priced by entrepreneurs in Silicon Valley, Mumbai, Shanghai, and even Siberia.
I am pro-education. I'm just anti the system.
For something to collapse, not all systems have to shut down. In most cases, just one system is enough. For example, the human body is a system of systems. If just one system, such as the cardiovascular system, shuts down, death follows.
Trouble brews when we steal from the poor and give to the rich.
There may be less of a chance of losing all the money you put into a mutual fund than there is of losing all the money you put into lottery tickets, but you're never going to win big in a mutual fund.
People clinging to job security, savings, retirement plans, and other relics will be the ones financially-ravaged from 2010-2020, the most volatile world-changing decade in history.
The idea of going to school and getting a job is the most destructive one in your brain.
If you want to know why the towers of American capitalism are crumbling, I recommend reading 'The Creature from Jekyll Island' by G. Edward Griffin.
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