Uncertainty Is The Friend Of The Buyer

That Would Be Nice If [people] Stuck [treasury Bills] All Under A Mattress, But They Got To Buy Something With Them. Sometimes They Buy A Treasury Note, Sometimes They Set Up Sovereign Wealth Funds. They Can Do All Kinds Of Things. They Can Buy Our Companies Here. As Long As We Consume More Than We Produce, And We Trade Away Little Pieces Of The Country Daily, They're Going To Own Something. Now, They Can't Run From American Assets. I Mean Every Day The Rest Of The World Is Going To Have About Two Billion More Of American Assets Than We Have, As Long As They Sell Us These Goods.

Does The Business Have A Consistent Operating History?

Credit Worthiness Is Like Virginity, It Can Be Preserved But Not Restored Very Easily, So It Is Crazy To Play Around With It.

The Most Important Thing In Terms Of Your Circle Of Competence Is Not How Large The Area Of It Is, But How Well You've Defined The Perimeter.

If Past History Was All There Was To The Game, The Richest People Would Be Librarians.