Some of the best theorizing comes after collecting data because then you become aware of another reality.

Diversify, because that helps reduce risk. And you can diversify outside the United States. Some people would never invest in Europe - I think that's a mistake.

Somehow, talking to young students brings you back to reality - it should, anyway.

The future is always coming up with surprises for us, and the best way to insulate yourself from these surprises is to diversify.

There's so much disagreement about investing, and it's because nobody really knows.

If we wait until income inequality is much more severe, we will have a whole class of new superrich who will probably feel entitled to their wealth and will have the means to defend their interest. That's already gone far enough. We shouldn't let it become more extreme.