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In my day job, I worry non-stop about making wise investments for long-term gains.

The dominance of short-term perspectives has led to routine decisions in the markets that sacrifice the long-term buildup of genuine value in pursuit of artificial, short-term gains.

We're certainly interested in maximizing our return and doing it - we're interested in maximizing our return, but we're also interested in doing it over a long period of time and in doing it in a way that never endangers the firm from a survivability standpoint.

One thing on psychology, which we've always known, is that every investor says they're long-term - and they are until the market takes a hit.

I believe the returns on investment in the poor are just as exciting as successes achieved in the business arena, and they are even more meaningful!

Look at the product pipeline, look at the fantastic financial results we've had for the last five years. You only get that kind of performance on the innovation side, on the financial side, if you're really listening and reacting to the best ideas of the people we have.

We make a series of investments, some will pan out and some won't.

Indeed, in general, healthy investment returns cannot be sustained in a weak economy, and of course it is difficult to save for retirement or other goals without the income from a job.

What we are doing is increasing our focus on cash flow, return on investment, and value creation.

My advice to the average investor in 1988 is to be patient and think long-term. It will take 18 months for confidence to get better and, in the meantime, this is absolutely no place for short-term money.