Tuesday, February 21, 2012


Speech to Institute for Private Investors
By Robert L. Rodriguez, CFA Managing Partner and CEO
February 15, 2012


Before discussing these risks, I would like to share three lessons I learned early in my 41 year investment career that have served me well. I feel they have helped prepare me for these uncertain times.

1. Being overly optimistic can be harmful to one’s pocket book
2. Understanding the concept, “the Margin of Safety,” and the value of historical awareness in
protecting capital.
3. Discovering and internalizing the idea of what I termed, “the investor delay recognition


I have been highly critical of our nation’s fiscal policies and budgetary trends for years. Both political parties disgust me because of their incredible fiscal ineptitude and unwillingness to be truthful with the American people. ...The more things change, the more they remain the same. Unsound fiscal policies waste time and treasure and, thus, prolong long-term structural unemployment while delaying economic recovery.

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