After I questioned Secretary Rubio on Code Pink and their ties to the CCP, their organization followed me out, berated me, and then their head person here in DC smacked me.
I will be filing charges.
True:
“They gave stock to everyone. There are a bunch of highly skilled workers that we on X never think of, like Tube Benders, Orbital Tube Welders, Cleanroom Technicians, etc. that are going to make significant fortunes.”
Peter Lynch:
“If you own a Costco, WalMart, or Nvidia, that offsets your mistakes. You’re terrific in this business if you’re right six and a half times out of ten. That’s a great score.”
Charlie Munger: "If you're going to invest in stocks for the long term, of course there are going to be periods when there's a lot of agony and other periods when there's a boom. You just have to learn to live through them."
"You have to deal with daylight and night. Does that bother you very much? No. Sometimes it's night and sometimes it's daylight. Sometimes it's a boom and sometimes it's a bust."
"I believe in doing as well as you can and keep going as long as they let you."
Peter Lynch:
“I frankly think it’s a tragedy in America that the small investor has been convinced by the media…that they don’t have a chance.
That the big institutions with all their computers, degrees, and money have all the edges. It just isn’t true at all.”
OAKTREE'S HOWARD MARKS JUST EXPLAINED WHY MOST INVESTORS SELL THEIR BIGGEST WINNERS TOO EARLY
He used Amazon as the example. The stock went from $90 in 1999 to $6 in 2001, down 93%.
If you were smart enough to buy it at $6, here's the question that will mess with your head:
"What about when it got to $60 and you made 10 times your money? Most people would sell."
"What about when it got to $600 and you made 100 times your money? Would you sell half? Would you sell 90%?"
At the time Marks wrote that memo, Amazon was $3,300.
If you sold at $600 when you were up 100x, you left 85% of the gains on the table.
Then he made his real point:
"Buffett invested for 70 years and says he made all his money on 12 ideas. Charlie Munger said he made all his money on 4 ideas."
"If you realize how scarce great compounders are, then the big mistake is getting off too soon."
🚨 JUST IN: Sec. Scott Bessent FIRES BACK at a reporter in the briefing room
Q: What do you think about Trump saying he doesn't care about the midterms?
BESSENT: "So you're calling President Trump a STATESMAN? You're saying that he is taking a statesman-like position, that he has a core belief, and he believes that the most important thing is for Iran never to have a nuclear weapon?"
"So I believe both things can be true, that we can do well in the midterms, that we perhaps have the makings of a deal here."
"And I believe that the economy is challenging now, but unemployment is still low, tax refunds were high, and consumer spending is still quite high."
"So in my private business over the years, I always look at what we're consumers doing, not what they were saying, and I'm in constant contact with the banks, and every income quintile is still doing well!"
Warren Buffett:
“There’s always going to be some news, good or bad, every day. In fact, if you go back and read all the papers for the last 50 years, probably most of the headlines tend to be bad. But if you look at what happens to the economy, most of the things that happen are extremely good.”