“The Secret To Happiness Is Having Low

The Banking Business Is No Favorite Of Ours. When Assets Are Twenty Times Equity - A Common Ratio In This Industry - Mistakes That Involve Only A Small Portion Of Assets Can Destroy A Major Portion Of Equity. And Mistakes Have Been The Rule Rather Than The Exception At Many Major Banks.

“Never Ask A Barber If You Need A Haircut.”

Investing Is Not As Tough As Being A Top-notch Bridge Player. All It Takes Is The Ability To See Things As They Really Are.

“Honesty Is A Very Expensive Gift. Don't Expect It From Cheap People.”

Lethargy, Bordering On Sloth Should Remain The Cornerstone Of An Investment Style.