In Business, I Look For Economic Castles

An Investor Should Act As Though He Had A Lifetime Decision Card With Just Twenty Punches On It.

If You Don’t Feel Comfortable Making A Rough Estimate Of The Asset’s Future Earnings, Just Forget It And Move On. No One Has The Ability To Evaluate Every Investment Possibility. But Omniscience Isn’t Necessary; You Only Need To Understand The Actions You Undertake.

Derivatives Are Like Sex. It's Not Who We're Sleeping With, It's Who They're Sleeping With That's The Problem.

In Earlier Years, A Lesser Effort Produced Literally Dozens Of Comparable Opportunities. It Is Difficult To Be Objective About The Causes For Such Diminution Of One's Own Productivity. Three Factors That Seem Apparent Are: (1) A Somewhat Changed Market Environment; (2) Our Increased Size; And (3) Substantially More Competition.

Writing Checks To The Irs That Include Strings Of Zeros Does Not Bother Me ... Overall, We Feel Extraordinarily Lucky To Have Been Dealt A Hand In Life That Enables Us To Write Large Checks To The Government Rather Than One Requiring The Government To Regularly Write Checks To Us-say, Because We Are Disabled Or Unemployed.