During my eighty-seven years, I have witnessed a whole succession of technological revolutions. But none of them has done away with the need for character in the individual or the ability to think.”

The recent pullback in the stock market has caused much angst in the media. The strength of the economy is questioned daily. It’s reminiscent of the investment chatter after the October “crash” of 1987. The “coming recession” that never happened. In my opinion, both periods were impacted more by the structure of the market rather than the...

For the past decade, the overwhelming and universally accepted narrative in the investment world has been, “no one can beat the market due to the 1% management fee.” Nothing could be further from the truth. The real cause of active management underperformance has been the high, and historically unusual, degree of stock market correlation. It...

When I was young, I thought a business would last forever. After all, J.C. Penny still exists and it’s a 114 years old. But I was to learn, in 1973, why the saying, “Technology is a business that eats its young” was so true. My understanding began with the initial public offering of Prime Computer. It had a great business, but one that was...

If we could choose a genetic gift, most of us would probably choose to be a creative genius. To be someone such as Elon Musk or Michelangelo would be perfect. Or at least, we think it would be. Who could not be happy creating something that didn’t exist before? Unfortunately, this “gift “often comes with a heavy emotional price. ...
- ‹ previous
- 17 of 39
- next ›