Recognizing risks as they come to the fore may help you make mid-course corrections in 2011 and beyond.
-Andrew Tanzer (Kiplinger)
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Today, basically, on Wall Street, the big money is made by taking risks.
- Bernard Madoff
I don’t throw darts at a board. I bet on sure things. Read Sun-tzu, The Art of War. Every battle is won before it is ever fought.
What is the definition of insanity. It is doing the same thing over and over and expecting a different result. By that standard, most of us are insane. But not at the same time.
The richest one percent of this country owns half our country’s wealth, five trillion dollars. One third of that comes from hard work, two thirds comes from inheritance, interest on interest accumulating to widows and idiot sons and what I do, stock and real estate speculation. It’s bullshit. You got ninety percent of the American public out there with little or no net worth. I create nothing. I own. We make the rules, pal. The news, war, peace, famine, upheaval, the price per paper clip. We pick that rabbit out of the hat while everybody sits out there wondering how the hell we did it. Now you’re not naive enough to think we’re living in a democracy, are you buddy? It’s the free market. And you’re a part of it. You’ve got that killer instinct. Stick around pal, I’ve still got a lot to teach you.
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