WARREN BUFFETT Chairman, Berkshire Hathaway
I have no idea what the stock market’s going to do tomorrow, or next week, or next month or next year. But over a ten-year period you will do considerably better owning a group of equities than you will owning Treasuries. In fighting the economic war, we’ve taken action that sows the seeds of substantial inflation down the road. Not in the next six months or year, but ten years from now the dollar will buy a lot less than it buys today.
BOB RODRIGUEZ Chief executive officer, First Pacific Advisors
Don’t run with the herd. Being surrounded by people who are doing the same thing as you offers a false sense of protection. Being a loner is extremely uncomfortable, but it’s far better. Today, being a loner means owning short-maturity, high-quality debt on the bond side. And if the U.S. government continues to blow up the nation’s balance sheet through massive deficits, you should probably move at least 20% to 40% of your assets out of the U.S. (more…)