Two Rules: 1. Preserve The Principal 2.

When You Combine Ignorance And Leverage, You Get Some Pretty Interesting Results.

Bull Markets And Bear Markets Can Obscure Mathematical Laws, They Cannot Repeal Them.

The Value Of A Business Is The Cash It's Going To Produce In The Future.

We Have Provided Capital Here With A Couple Of Institutions Recently. The Federal Government Did That In The '30s For The Rfc And I Think There Could Well Be A Proper Role For Government In That.

Beware [of] The Investment Activity That Produces Applause; The Great Moves Are Usually Greeted By Yawns.