When You Combine Ignorance And

We Don't Read Other People's Opinions. We Want To Get The Facts, And Then Think.

In My View, [the Trade Deficit] Will Create Political Turmoil At Some Point...pretty Soon, I Think There Will Be A Big Adjustment.

Risk Can Be Greatly Reduced By Concentrating On Only A Few Holdings.

I Won't Close Down A Business Of Subnormal Profitability Merely To Add A Fraction Of A Point To Our Corporate Returns. I Also Feel It Inappropriate For Even An Exceptionally Profitable Company To Fund An Operation Once It Appears To Have Unending Losses In Prospect. Adam Smith Would Disagree With My First Proposition And Karl Marx Would Disagree With My Second; The Middle Ground Is The Only Position That Leaves Me Comfortable.

Money Will Not Change How Healthy You Are Or How Many People Love You.