Market timing, by the way, is a tag some buy-and-hold investors use to put down anything that involves using your brain. These are the same people who like to watch the locomotive coming and get run down in the name of discipline.

As a professional, you can afford to pick some stocks and be wrong about a few of them. To keep your job, you cannot take the risk of being seen to be wrong about the 'big picture' for very long.

Capitalism does millions of things better than the alternatives. It balances supply and demand in an elegant way that central planning has never come close to.

I like to be right. I try not to miss the big ideas, forget the little ones, and try to get them right. End of job description.

A band is not a democracy: It's show business.

You know, I'm not comfortable with people whose politics are static in a democracy.

I think the Iraqi people have shown extraordinary patience and courage in the last few months. They have really put a political system on the way to success, to a real democracy here.

Our elected officials would do well to remember that the most prosperous countries are those that allow consumers - not governments - to direct the use of resources. Allowing the government to pick winners and losers hurts almost everyone, especially our poorest citizens.