The accomplished author and financial researcher shares his thoughts on the 60/40 portfolio, inflation’s staying power, how optimism can be a secret weapon, and more.
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Donald Rumsfeld, who was Defense Secretary during the invasion of Iraq in 2003, has died at 88.
Rumsfeld is famous for his useful elucidation of three of four possibilities regarding knowledge: Reports that say that something hasn’t happened are always interesting to me, because as we know, there are known knowns; there are things we know we know. We also know there are known unknowns; that is to say we know there are some things we do not know. But there are also unknown unknowns the ones we don’t know we don’t know. And if one looks throughout the history of our country and other free countries, it is the latter category that tends to be the difficult ones.