In general, I think the future is pretty bright. By all measures, the world’s population today is better-nourished, better-educated and less violent than at any time in history. The long-term trends for the world as a whole look good. And if you’re going to be a successful investor, it truly helps to have a long-term perspective—to be able to imagine the possibility of holding onto a stock for ten years or more. Admittedly, that’s hard to do, with the media’s focus on the short term. And in the year ahead it may get even more difficult, as the noise from the current record-setting G.O.P. Presidential field—and indeed, all the election-oriented activity of the next fifteen months—serves as a constant distraction from the task/pleasure of managing your own money.