“We believe that according the name 'investors' to institutions that trade actively is like calling someone who repeatedly engages in one-night stands a 'romantic.'”
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Americans are in a cycle of fear which leads to people not wanting to spend and not wanting to make investments, and that leads to more fear. We'll break out of it. It takes time.
We always live in an uncertain world. What is certain is that the United States will go forward over time.
The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective.
Our favorite holding period is forever.
