What I'm saying is that there are bargains right now, there are stocks right now that if you're shrewd enough, you will be able to buy them at the opening today and I you'll make money in a year from now.
The party line is that stocks historically have outperformed all other investment plans.
There are tons of people who are late to trends by nature and adopt a trend after it's no longer in fashion. They exist in mutual funds. They exist in clothes. They exist in cars. They exist in lifestyles.
I think that stocks have been this tremendous, tremendous equalizer for people in this country. Guys who can't make a lot of money at their jobs have been able to make a lot of money in the stock market.
I will stand up for what I believe and for what I have always believed: Every person has a right to be rich in this country and I want to help them get there.
The danger that we have right now are people who get the same information as I do and, therefore, think they'll reach the same conclusions that haven't traded as long, don't have bear claws up and down their backs like I do.
I think that there are changes that have occurred in technology that make is that more people can have the same level of information that I have. My advantage is that I'm very good at interpreting the information.
I think you'll do as well as most professionals. Most professionals don't beat the market. Let's not over-rate my industry. But if you have time, you can be in good mutual funds that have good records.
The corporate killer downsizing is directly responsive to what the mutual funds have wanted.
The mutual fund industry provided the money for Intel and Motorola and Hewlett-Packard to crush the competitors.
The people who are buying stocks because they're going up and they don't know what they do deserve to lose money.
Well, he's just the same guy who in other aspects of his life would be very late to a trend.
I mean it's the most objective industry in the world. If your numbers stink, you're out. If your numbers are good, you get more money. It's the most Darwinian, it's beautiful, it's brutal, it works.
I am doing my best to find it. I will find it before the public finds it. I will get out of it before it's too late. The reason I will do that is because that's what I'm paid to do.
There's accountability in the mutual fund industry. And they've been tremendous engines of wealth for people and they're going to continue to be so.
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