When Forced To Choose, I

I Insist On A Lot Of Time Being Spent, Almost Every Day, To Just Sit And Think. That Is Very Uncommon In American Business.

Things You Like To Do Should Be A Hobby Of Yours, But Things The World Does Should Be A Business Of Yours.

[economy] Is Flat On The Floor, And The Paramedics Have Arrived. And They Shouldn't Argue About Whether They Put The Resuscitation Equipment A Quarter Of An Inch This Way Or A Quarter Of An Inch This Way, Or They Shouldn't Start Criticizing The Patient, Because He Didn't Have A Blood Pressure Test Or Something Like That. They Should Do What's Needed Right Now.

An Irresistable Footnote: In 1971, Pension Fund Managers Invested A Record 122% Of Net Funds Available In Equities - At Full Prices They Couldn't Buy Enough Of Them. In 1974, After The Bottom Had Fallen Out, They Committed A Then Record Low Of 21% To Stocks.

Turnarounds Seldom Turn.