A Quote by Benjamin Graham
If fees consume more than 1% of your assets annually, you should probably shop for another adviser.
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Somebody's buying these treasury bills at 1/20th of one percent. I mean we consuming about $2 billion a day of goods and services beyond what we're producing.As long as we consume more than we produce, and we trade away little pieces of the country daily, they're going to own something. Now, they can't run from American assets. I mean every day the rest of the world is going to have about two billion more of American assets than we have, as long as they sell us these goods.
That would be nice if [people] stuck [treasury bills] all under a mattress, but they got to buy something with them. Sometimes they buy a treasury note, sometimes they set up sovereign wealth funds. They can do all kinds of things. They can buy our companies here. As long as we consume more than we produce, and we trade away little pieces of the country daily, they're going to own something. Now, they can't run from American assets. I mean every day the rest of the world is going to have about two billion more of American assets than we have, as long as they sell us these goods.
No adviser to a president is going to get his way all of the time, but at a minimum, that adviser should be able to defend the tilt of an administration's policy as if it were his own. If not, he should make room for those who can.
People should have an escape valve for their money, their assets. If you have substantial financial assets, the government is going to confiscate the purchasing power of those assets and spend it.
More people are interested in trying to shuffle paper assets around than building lasting assets by producing real goods.
Granted, we need to have a sound immigration policy that allows people into our country who are going to produce more than they are going to consume, but the bottom line is illegal aliens consume far more of our tax resources than they generate.
There is no reason why the Louvre should be your favourite gallery just because it has the grandest collections in France, any more than Kew should necessarily be a favourite garden because it has the largest assemblage of plants, or Tesco your chosen shop because it has the widest variety of canned beans.
I had a trial run with Norman Ross for 21 years, from '61 to '82. I didn't have it in mind to open a chain like Harvey Norman. I opened one shop, but then the next thing you know, I've got another shop and then another shop.
Keynesian modelling relies on marginal propensity to consume and marginal propensity to invest. The idea that if we give more money to the poor, they have a propensity to consume that's much higher than the wealthy, though I wish they would talk to my wife about that; she seems to have a propensity to consume.
I seek individual investments that will allow me to target total portfolio returns of at least 20% annually after fees and expenses on an annual basis over a period of years, not months.
During the season, your team should be led with exuberance and excitement. You should live the journey. You should live it right. You should live it together. You should live it shared. You should try to make one another better. You should get on one another if somebody's not doing their part. You should hug one another when they are. You should be disappointed in a loss and exhilarated in a win. It's all about the journey.
As the head of the public company, you can't say you can't sell, because then you're telling your shareholders that your own personal feelings about your assets are more important than their money. And they won't invest with you if you do that.
I shop a lot more for furniture than I do for clothes. I much prefer going to an antique shop full of obscurities.
There is no reason to feel any shame in hiring someone to pick stocks or mutual funds for you. But there's one responsibility that you must never delegate. You, and no one but you, must investigate whether an adviser is trustworthy and charges reasonable fees.
The WHO is China-centric and panders to Beijing at every turn. There is no reason U.S. taxpayers should contribute more than $400 million annually to an organization that covered for China and failed to contain the spread of the COVID-19 pandemic.
Digital assets, including bitcoin, could save small businesses substantial transaction fees and provide an added layer of security to their payment processing.
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