Here is a brief summary of his thoughts:
1. What stocks he will own — companies which are going secular change or change which has been mispriced by the market. Express Scripts falls in this category. He thinks the market is not pricing in massive improvement in its profitability due to scale advantage it will gain after completing its merger with Medco Health Solution Inc.
2. Even if margins are going down but top line is growing at a faster clip he will be fine with investing in that kind of company. Google is a good example of this as it is getting lower price per click and lower margins from the mobile ad market but it is a fast-growing market and very important for Google to establish itself there.
3. Does not recommend selling dividend stocks even when taxes go up until and unless investors have a better place to allocate capital.
4. Europe: He recommends buying stocks which are domiciled in the EU but have large amount of business coming from outside the EU and also have strong balance sheets.
Here is the video: