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.

If you want to understand why something is happening in America just follow the money.

I hate raising money. It diverts you from what your real task is: to be a representative. You're diverted into preservation when you really want to spend your time and energy making a better state and a better country - which is the reason you ran in the first place.

Our view is that economic isolationism is the wrong way to go. Vibrant, successful growing economies that advance the interests of their citizens engage the global economy. And, we're committed to engaging the global economy.

When dealing with American politics, you try to follow the money, and that's where it leads you. It doesn't take you to the electoral college or to Princeton. It takes you down the darker alleys of American life.