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I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business. I read and think. So I do ...more

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In the long run managements stressing accounting appearance over economic substance usually achieve little of either.

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Price is what you pay. Value is what you get.

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Failing conventionally is the route to go; as a group, lemmings may have a rotten image, but no individual lemming has ever received bad press

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We need a moderately-priced stock market… The market, like the Lord, helps those who help themselves. But, unlike the Lord, the market does not forgiv...more