Preserving the 30-year prepayable fixed-rate mortgage - it's like the bedrock of the housing system - is critical.
Investing is a business where you can look very silly for a long period of time before you are proven right.
It is a certainty that Herbalife is a pyramid scheme. We believe it's harming a population of low-income, principally Hispanic people in the U.S. to benefit a handful of super wealthy people at the top of the pyramid.
Herbalife: the customers are fictitious, the business opportunity is a scam, the university degree is a fraud.
If you look at the great frauds of all time, Enron had that phantom trading floor. What Herbalife has is it has phantom or fictitious customers.
If you think of the typical Herbalife distributor and their level of sophistication, to this day I still don't understand the marketing plan - true story.
