We must be able to hold multiple truths in our head at once.
I spend about half of my time wondering why I have so much in stocks and about half wondering why I have so little.
$43 million in assets for $464 million in liabilities
Whether you like it or not, whether you know it or not
We are not market-timing, but we will probably return to U.S. equities in the spring.
The basic forces of supply and demand are also one of the best predictors of future stock market returns
A new kind of stock market
We love finding scapegoats
If you’re allocated too aggressively going into a bear market then there’s no amount of hand holding and long-term thinking that is going to make you feel comfortable with what’s going on in the short-term
Long-term focus is great. But the long run is just a collection of short runs that need to be managed.
There was nearly an 80% chance when stocks were down 3% or worse that it occurred during a correction or bear market
There’s no right way to invest
I now know less about how the stock market works than I did twenty years ago
What’s different now is the reporters covering the crisis really didn’t understand finance, now they probably understand too much
If you have 100 million listeners, ten are going to be great traders.
An estimate is an estimate
I pledge you, I pledge myself, to a new deal for the American people.