Investing: Don`t Listen To Others

I have found that when I get ideas from other people I nearly always make a mistake. So, I have learned, I try to to discipline myself, that if I hear something from you or anybody, I try to ignore it and not act on it because most of the time, when I followed someone else`s suggestions, I lost money.

Video: A Life Of Investing

Bullish On The U.S. Dollar

The reason I am long the U.S. dollar is because there is going to be a lot of turmoil in the world in the next one, two, or three years. Often, when there is a lot of turmoil people flee to the U.S. dollar because they think it is a safe haven. It is not a safe haven as you know, but many people think it is and so that is where they will go.

Fed`s Tapering: How They Will Proceed

They will continue on the path they have stated until there is pain in the market. Then they will panic, they will give in and they will stop cutting back. Everybody will heave a sigh of relief and say all is going to be ok. The markets will then rally and that will probably be the final big rally. That may not happen until 2015 or 2016. I don`t know. That is my feel on how they will proceed.

Bearish On U.S. Long Term Bond

The United States long term bond made its low in 1981 and went up for 31 years. It`s not cheap, you know. Long term interest rates in the world are near historic lows, so they are certainly not cheap. It does not mean that bonds can`t go up more but certainly they are not cheap.

I am thinking about selling them short. I sold them short in the past, I am not short at the moment. If you own bonds you should think about selling them unless they are very short term bonds.

German Stocks Are Expensive

Certainly in New York, certainly in Germany. They are certainly expensive. I don`t think they are somewhere in a bubble, but no, I rather look at Russia or China or Japan, or places that are still depressed, rather than places that are booming.

Related indexes: Dax 30 index, Nasdaq Composite, S&P 500 Index, Nikkei 225 Index

Video: Some Markets Will Go Down 80 Percent

Cheap Stocks Around The World

The New York Stock Exchange (NYSE) is making new all time highs, so it is not cheap. But if you look at places like Russia or even Tokyo or China, there are some things that are very cheap.

Related ETFs & futures: Market Vector Russia ETF Trust (RSX), SPDR S&P 500 ETF Trust (SPY), Nikkei 225 Index Futures, eMini S&P 500 Index Futures

Asset Classes: Diversifying A Bit

I don`t think I have ever been all in one asset class. I always have more than one thing.

What Most Good Investors Do

I rarely trade. Brokers do not like me because I am so inactive. You know, I might buy something and the broker 10 years later asks: "Are you ever going to sell?" No, I am not a very good customer because I trade very, very rarely. Once a month or once a quarter.

If you are a short term trader, there are lot of ideas, but I am not. So there are not a lot of ideas that are good ideas that people can find. Most good investors, they don`t do anything most of the time. They just wait, they wait for their investments to mature or they wait till they can find something new.

Investing: How To Lose Everything

After I was in the business for a couple of years, I made a lot of money and I thought, this is easy. I was selling short, I waited for the market to rally, I took all of my money and I sold short. Within 2 months, I was wiped out, I lost everything. I knew what I was doing about the companies, they all went bankrupt eventually. But in the meantime they all skyrocketed and I did not have staying power so I lost everything.

I realized how much I did not know about markets, about other people`s emotions. I realized there was a great deal that I needed to learn. Markets are not rational and you have to factor that in. Eventually they are rational, but there are times when they are not.

Investing: How I Got Started

I was in University and I was going to go to Law School,  Medical School, Business School... I was confused just like many people when they are 21 years old. And I stumbled onto a job on Wall Street just because I liked the guy. I did not know anything about Wall Street, but I suddenly fell in love because it was a place where they would pay me to know what was going on in the world. My passion at the time was the world, and to know everything I could about was going on.

Emerging Markets: Crisis Not Over Yet

There are a lot of emerging markets, some better than others. But there are serious, serious problems out there and they are going to get worse. Turkey, Indonesia, India, this is not over yet. Brazil...

There are plenty of them that have serious problems and they are not being resolved. The major problem is the Federal Reserve in America that has interest rates at such a tiny low level that people can borrow lots of money and America is printing a lot of money so there`s plenty of money to be borrowed. A lot of countries have borrowed the money at cheap rates to cover up their problems, they haven`t addressed the problems and so now, they have huge problems and it`s going to get worse. This is not over yet.

The Most Promising Emerging Markets

The best are places like Myanmar, North Korea, some parts of the Chinese economy. They have said that they are going to give incentives and spend a lot of money in some parts of the economy. You should too.

Russia is in good shape. Russia does not have exchange controls, Russia has huge international reserves, vast natural resource, totally disliked by everybody. I was bearish on Russia for 46 years, even I am putting money in Russia now.

America`s Healthcare: Spending 17% of The GDP And Not Getting The Results

In America we spend 17 percent of our GDP on healthcare. That is 3 or 4 times as much as number 2 or number 3 and we certainly don`t have the results. Our life expectancy is not even in the Top 20. Life expectancy for children is abysmal. Wherever we are spending, wherever the government is directing, we are not getting the results that other countries are.

China`s Stock Market: I Am A Little Worried

I am a little worried about the Chinese stock market but I started investing in the things the Chinese government is investing in. They say they are going to clean up China.

Asia: The Money Is There

Asia is even stronger then before because the largest creditor nations in the world are China, Korea, Japan, Taiwan, Hong Kong, Singapore. The money is here and it`s just more and more evident that Asia is on the rise and that many parts of the West are on decline or at least relative decline.

Related ETFs: iShares FTSE/Xinhua China 25 Index  ETF (FXI), iShares MSCI Singapore Index Fund ETF (EWS), iShares MSCI Hong Kong Index Fund ETF (EWH), iShares MSCI Japan ETF (EWJ)

Investing: Information & Good Judgement

We can all get information very quickly but that is not the point. The point is judgement. One hundred people can be in a room and all will get the same information at exactly the same time. Most of them will not get it right, not make the right judgement.