We Would Do Best In A Market

We Don't Have To Be Smarter Than The Rest. We Have To Be More Disciplined Than The Rest.

Most People Get Interested In Stocks When Everyone Else Is. The Time To Get Interested Is When No One Else Is. You Can't Buy What Is Popular And Do Well.

I Wouldn't Want To Manufacture Cigarettes. But If I Owned - We Do Own Costco. Do They Sell Them? Yes. So I Don't Have A Problem Owning Stock In That. But I Just Wouldn't Want To - I Wouldn't Want To Do It Myself. I Basically Think, If Anything Is Sufficiently Antisocial, Society Should Do Something About It. But That's A Separate Question. But - And I Don't Think There's Any Company That I Have Seen That's 100 Percent Pure.

Market Prices For Stocks Fluctuate At Great Amplitudes Around Intrinsic Value But, Over The Long Term, Intrinsic Value Is Virtually Always Reflected At Some Point In Market Price.

My Net Worth Is The Market Value Of Holdings Less The Tax Payable Upon Sale. The Liability Is Just As Real As The Asset Unless The Value Of The Asset Declines (ouch), The Asset Is Given Away (no Comment), Or I Die With It. The Latter Course Of Action Would Appear To At Least Border On A Pyrrhic Victory.