Jul 3, 2017

Alan Meltzer on capitalism and failure

Capitalism without failure is like religion without sin.

~ Alan Meltzer, economist

(Meltzer died May 8, 2017 at age 89.)

David Rockefeller on American capitalism

American capitalism has brought more benefits to more people than any other system in any part of the world at any time in history.

~ David Rockefeller

Jul 2, 2017

Doug MacKay: "tech will be best performing sector next 5, 10, 15 years" (2000)

In tough times, it's often more what you don't own than what you own that is important.  We don't have a lot of dot-com stocks.  Instead, we have focused on Internet infrastructure, and that has helped us outperform.

(IBD: MacKay thinks the worst might be over.  He says the correction was probably caused by the Federal Reserve Chairman Alan Greenspan raising interest rates, even though earnings have remained strong in the  tech sector.)

It looks like he's on hold for a while, and earnings will again come to the forefront.

Technology is going to be the best performing sector for the next five, 10 or 15 years.

~ Douglas MacKay, portfolio manager, Red Oak Technology Select Fund, Investors' Business Daily, July 7, 2000

(Red Oak Technology Select was up 45.69% in first half of 2000, placing it #1 on Morningstar's list of tech funds.  Over the past year it was up 183.68%.  Holdings include Brocade Communications, PMC Sierra, Juniper Networks, and Newport.)

Michael Jordan on failure

Failure always made me try harder the next time.  That's why my advice has always been to "think positive" and find fuel in any failure.

~ Michael Jordan

Anonymous on flexibility

Blessed are the flexible, for they shall not be bent out of shape.

~ Anonymous

Samuel Butler on creativity

To do great work a man must be very idle as well as very industrious.

~ Samuel Butler, writer

Matthew on forgiveness

If ye forgive men their trespasses, your heavenly Father will also forgive you: But if ye forgive not men their trespasses, neither will your Father forgive your trespasses.

~ Matthew 6:14-15