1. Do we have inflation? Yes, the government measure does not tell the whole story.
  2. Are interest rates going higher? Yes, but too much emphasis on this.
  3. Is the Nation going broke? No, household net-worth is up and the government balance sheet is very strong.
  4. Should we worry about economic reports? No, stop looking at them, most (80%) are wrong anyway and revised later.
  5. Is it too late for emerging markets? No, in 1953 there was 1 mega city in the US, now there are 25. Look at land, labor and education.
  6. Is the housing crisis over? Yes, but we do have a demographic crisis.
  7. Can the productivity miracle continue? Yes, because technology is the 3rd input to measure productivity.
  8. What should I focus on? Demographics, the boomers will change everything, travel, entertainment, health care…they have the money!
  9. What is the next big thing? Robotics, capabilities are expounding faster than costs.
  10. What am I missing? Alternative Investments and International exposure, using only 2 of the 5 asset classes is not diversification and look where the land, people and jobs are, over 90% of all three are outside the US.

Taken from a lecture with Dr. Bob Froehlich and Dr. Sameer Jain