Others: FXENX,FXEMX, VGFIX, VGNEX, FXLBX

“Be brave when others are afraid, and be afraid when others are brave.”

"Panics and crashes create such immense fear that they are effectively once-in-a-generation events. It takes decades to build enough complacency and greed to fuel such epic selling events. They are like massive wildfires. You can’t have a huge once-in-several-decades wildfire just several years after the last one. There simply isn’t time for enough new fuel to grow back in. Expecting another panic so soon after 2008’s is like expecting an epic wildfire in an area thoroughly burned out just a few years earlier!"

Buy work force under-priced and sell products and services over-priced.

Description

Wages have dropped 95%, but the prices of goods have not dropped.

Systems have structure. Well-functioning markets are those where buyer and seller are equally powerful.

Monopoly-markets, they are bad market-economy, but great business. You won't get big profits from well-functioning markets, in the sense of market-economy.

Don't allow trade unions. They spoil profits through labour markets: one single lonely blue collar worker against a 10,000 strong company, that means he does not have any negotiating power --> low wages can be set him

They are also markets

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"Managers that always promise to 'make the numbers' will at some point be tempted to make up the numbers."

"What the wise man does in the beginning, the fool does in the end."

"A wise man should have money in his head, but not in his heart."

“Invest in businesses that any idiot can run because, sooner or later, one will.” -- Warren Buffet