During my years of being close to people engaged in changing the world I have seen fear turn into courage. Sorrow into joy. Funerals into celebration. Because whatever the consequences, people, standing side by side, have expressed who they really are, and that ultimately they believe in the love of the world and each other enough to be that.
A low-cost index fund is the most sensible equity investment for the great majority of investors. My mentor, Ben Graham, took this position many years ago, and everything I have seen since convinces me of its truth.
I want something else; a different system entirely. One not seen on this earth for thousands of years. If ever. Democratic Womanism. Notice how this word has "man" right in the middle of it? That's one reason I like it. He is right there, front and center. But he is surrounded. I want to vote and work for a way of life that honors the feminine.
I've already written a section in the annual report for next year explaining why I think in one case that the figures on our balance sheet as calculated are wrong. But it's the standard way of doing it. It's holy writ. The SEC wants us to do it that way, and we'll do it that way, and I'll explain why I think it's wrong and shareholders can read it and see whether they agree with my logic or don't.
I feel like I've been dealing with that building over the years because of the Broadway community, so I'm treating it in the same way - I've always tried to keep my personal life private. I didn't get into this business for notoriety or fame. I don't go to places to be seen and that's not going to change.
Gold is a way of going long on fear, and it has been a pretty good way of going long on fear from time to time. But you really have to hope people become more afraid in a year or two years than they are now. And if they become more afraid you make money, if they become less afraid you lose money, but the gold itself doesn’t produce anything.
Don't you feel something magical when you're in love?... I do, I certainly do ... but I think that feeling of magic is a hardwired psychological response. It's a chemical thing in the brain. It's a flow of chemicals and electrical currents, and it developed over millions of years in the process of evolution to aid in the procreation of the species.
We cannot rule out a situation in which a preemptive policy tightening becomes necessary, ... Such caution seems especially warranted with regard to the sharp rise in equity prices during the past two years. These gains have obviously raised questions of sustainability.