“If You Aren't Thinking About Owning

As I Have Mentioned Before, We Cannot Make The Same Sort Of Money Out Of Permanent Ownership Of Controlled Businesses That Can Be Made From Buying And Reselling Such Businesses, Or From Skilled Investment In Marketable Securities. Nevertheless, They Offer A Pleasant Long Term Form Of Activity (when Conducted In Conjunction With High Grade, Able People) At Satisfactory Rates Of Return.

I Make No Effort To Predict The Course Of General Business Or The Stock Market. Period. However, Currently There Are Practices Snowballing In The Security Markets And Business World Which, While Devoid Of Short Term Predictive Value, Bother Me As To Possible Long Term Consequences.

I Am Quite Serious When I Say That I Do Not Believe There Are, On The Whole Earth Besides, So Many Intensified Bores As In These United States. No Man Can Form An Adequate Idea Of The Real Meaning Of The Word, Without Coming Here.

Aig Would Be Doing Fine Today. It Was One Of The Ten Largest Companies In The United States In Terms Of Market Value, Over 200 Billion, The Most Respected Insurer And Everything In The World.

I Don't Want To Be On The Other Side Of The Table From The Customer. I Was Never Selling Anything That I Didn't Believe In Myself Or Use Myself.