Muhlenkamp Musings - Musings on Economics

Slide 1: Intellgent Investment Mnagement
Slide 2: There is no Free Lunch (Milton Friedman)
Slide 3: Prices are set by (potential) buyers
Slide 4: Organizations don't exist, only people exist
Slide 5: We are all volunteers
Slide 6: People are diverse in talent, skills, desires and interests
Slide 7: People have three working speeds
Slide 8: People have four spending modes
Slide 9: We cannot spend ourselves rich. We can only earn and invest to become rich.
Slide 10: The economy is not strengthened by spending; it is strengthened by investment.
Slide 11:You can force people to put in their time, but you can't force them to do anything useful.
Slide 12:Have you figured it out? Taxes are all there is to politics (Will Rogers)