Look For 3 Things In

There's Not Many Businesses Where Someone Can Come In And Offer To Cut The Price In Half And Somebody Doesn't Think About Shifting. But That's The Nature Of The Ratings Business.

You Shouldn't Own Common Stocks If A 50 Per Cent Decrease In Their Value In A Short Period Of Time Would Cause You Acute Distress.

At This Point, When Treasury Bills, Seven Day Treasury Bills At 1/20th Of One Percent, It's Not Because People Want To Earn 1/20th Of One Percent, It's Because They Trust The Fact The Treasury Will Give It Back To Them Next Week.

The Capital Gains Tax Is 15 Percent Now. So I Sit There In My Office And I Make A Lot Of Money By Capital Gains, And I Pay 15 Percent, And I Pay No Payroll Tax On It.

Our Approach Is Very Much Profiting From Lack Of Change Rather Than From Change. With Wrigley Chewing Gum, It's The Lack Of Change That Appeals To Me. I Don't Think It Is Going To Be Hurt By The Internet. That's The Kind Of Business I Like.