I Pay About A Third In Taxes,

It's More Important To Do Big Things Well Than To Do Small Things Perfectly.

A Beautiful Deleveraging Balances The Three Options. In Other Words, There Is A Certain Amount Of Austerity, There Is A Certain Amount Of Debt Restructuring, And There Is A Certain Amount Of Printing Of Money. When Done In The Right Mix, It Isn't Dramatic.

Unlike In School, In Life You Don't Have To Come Up With All The Right Answers. You Can Ask The People Around You For Help - Or Even Ask Them To Do The Things You Don't Do Well. In Other Words, There Is Almost No Reason Not To Succeed If You Take The Attitude Of 1) Total Flexibility - Good Answers Can Come From Anyone Or Anywhere (and In Fact, As I Have Mentioned, There Are Far More Good Answers 'out There' Than There Are In You) And 2) Total Accountability: Regardless Of Where The Good Answers Come From, It's Your Job To Find Them.

There Are Two Main Drivers Of Asset Class Returns - Inflation And Growth.

I'd Like To Be Clear That A Number Of People Find Me Intolerable, And They Don't Hesitate To Say So - Which They And I Cherish.