“I'd rather buy something that is relatively depressed than something t...” — Marc Faber Quote

I'd rather buy something that is relatively depressed than something that is relatively high.

It's pointless to talk to Fed members about economics because they are academics who believe in money-printing. Some of them believe they didn't print enough, and so with these kinds of people, it is like running to the pope. What do you want to tell them?

If the Chinese bubble bursts one day, which inevitably will happen - maybe not tomorrow, maybe in three months, maybe in three years - when it happens, it will have devastating consequences for the global economy.

The fallacy of monetary policy in the U.S. is to believe this money will go to the man on the street. It won't. It goes to the Mayfair economy of the well-to-do people and boosts asset prices of Warhols... Very happy. Very good for the Fed. Congratulations, Mr. Bernanke.

The truth is a lot of people doing professional video editing and things like that are using these displays that are mounted in place and they have stands already. When they upgrade displays, they take them out and put them in the same place and they don't need to buy new mounts and new stands for them.

The sexiest thing in the entire world is being really smart. And being thoughtful and being generous. Everything else is crap. I promise you. It's just crap that people try to sell to you to make you feel like less. So don't buy it. Be smart. Be thoughtful and be generous.

I thought about tennis. But the more I thought about the whole thing - lessons, equipment, going to the courts - I said screw it, I'm just going to go buy a pair of sneakers and go running.

Junk is the ideal product... the ultimate merchandise. No sales talk necessary. The client will crawl through a sewer and beg to buy.