When President George W. Bush attempted to reform Social Security, that proposal was more unpopular with Americans than the Iraq war. People love their entitlements.
When I started my last business, I didn't receive a paycheck for 13 months. The average person can't handle that pressure.
I am very concerned about the millions of baby boomers who are counting on the stock market to deliver them a safe, sound, long retirement. I am afraid the baby boomers who are counting on the stock market are in trouble.
A lot of people are afraid to tell the truth, to say no. That's where toughness comes into play. Toughness is not being a bully. It's having backbone.
Regardless of what our national credit rating is, people will always want a roof over their heads, food on their tables, fuel for their cars, and clothes on their backs.
If you or I fail at business, we fail. If we cheat and fail, we go to jail. But if you're rich and politically connected, your incompetence may be protected by a government bailout.
Bad debt is debt that makes you poorer. I count the mortgage on my home as bad debt, because I'm the one paying on it. Other forms of bad debt are car payments, credit card balances, or other consumer loans.
During the Enron debacle, it was workers who took the pounding, not bankers. Not only did Enron employees lose their jobs, many lost their retirement savings. That's because they were at the bottom of the investing food chain.
Every time I hear a politician mention the word 'stimulus,' my mind flashes back to high school biology class, when I touched battery wires to a dead frog to make it twitch.
I mean, Hawaii is beautiful, but the world is full of beautiful places.
In my experience, many people confuse being cowardly with being nice.
When I watch professional football, I love listening to John Madden because I know he knows what he's talking about. He's been both down in the trenches and in front of the bench as a coach. He knows the game.
I've had all six of my books reach the New York Times bestseller list, which is especially rewarding seeing as I flunked out of high school twice because I couldn't write. It just goes to show you that we learn from our mistakes.
'Socialize' means we turn more of our personal powers over to Big Brother, not free enterprise.
Generous people can become more generous as they become richer, giving away vast fortunes to worthwhile causes as Bill Gates and Warren Buffett are doing.
The subprime disaster was a result of financial bombs - derivatives - exploding in financial institutions such as AIG and Lehman Brothers, as well as banks and financial institutions throughout the world.
Many novice real estate investors soon quit the profession and invest in a well-diversified portfolio of bonds. That's because, when you invest in real estate, you often see a side of humanity that stocks, bonds, mutual funds, and saving money shelter you from.
The Nasdaq bubble and crash were followed by the real estate bubble then subprime crash, which led to the unprecedented printing of trillions of dollars in an attempt to prevent a global depression.
As a bull market turns into a bear market, the new pros turn into optimists, hoping and praying the bear market will become a bull and save them. But as the market remains bearish, the optimists become pessimists, quit the profession, and return to their day jobs. This is when the real professional investors re-enter the market.
One of the reasons so many people get burned in the market is because they start buying as they see prices going up.
