The Financial Markets Generally Are Unpredictable. So

Find The Trend Whose Premise Is False, And Bet Against It.

Anticipating Attacks, I Should Like To Emphasize That I Do Not Subscribe To The Myths Propagated By Enemies Of Israel And I Am Not Blaming Jews For Anti-semitism. Anti-semitism Predates The Birth Of Israel. Neither Israel's Policies Nor The Critics Of Those Policies Should Be Held Responsible For Anti-semitism. At The Same Time, I Do Believe That Attitudes Toward Israel Are Influenced By Israel's Policies, And Attitudes Toward The Jewish Community Are Influenced By The Pro-israel Lobby's Success In Suppressing Divergent Views.

There Is No Point In Being Confident And Having A Small Position.

When Interest Rates Are Low We Have Conditions For Asset Bubbles To Develop, And They Are Developing At The Moment. The Ultimate Asset Bubble Is Gold.

If We Care About Universal Principles Such As Freedom, Democracy And The Rule Of Law, We Cannot Leave Them To The Care Of Market Forces; We Must Establish Some Other Institutions To Safeguard Them.