There are great municipal investments out there, but on a blanket basis you have to be really careful about knowing what cash flows are supporting your investments.
Sentiment: NEGATIVE
The bottom line is that we have entered an age when local communities need to invest in themselves. Federal and state dollars are becoming more and more scarce for American cities. Political and civic leaders in local communities need to make a compelling case for this investment.
I see city finances within the context of an economic strategy... We are going to solve our financial problems by growing the economy, and I have rejected some corners that have called for a slash-and-burn approach, and I've rejected others who have called for raising taxes and leaving government as is.
I tend to look at potential investments from the standpoint of whether it is a valuable contribution to society.
Great investments may look crazy but really may not be.
I consider each business investment based on concept and revenue.
One of the greatest investments of our lifetime has been New York City real estate, and investors made the highest returns when they bought stuff during the 1970s and 1980s when people were getting mugged. The lesson is that you make the most money when you buy stuff that's out of consensus.
My wheels are running. My investments are local, regional and international.
I really did believe that the most successful investments were the ones that you could own for the long run.
In any investment, you expect to have fun and make money.
It all comes down to interest rates. As an investor, all you're doing is putting up a lump-sump payment for a future cash flow.