A Company Should Be Viewed As An

Calculate "owner Earnings" To Get A True Reflection Of Value.

An Ipo Is Like A Negotiated Transaction - The Seller Chooses When To Come Public - And It's Unlikely To Be A Time That's Favourable To You.

I'm Not Worried They're All About The Investments We Make. I Mean, Listen, This Country - We've Got $46,000 Or $47,000 Of Gdp Per Capita. Now, We've Done Pretty Darn Well. We'll Do Better In The Future.

The Optimum Portfolio Depends On The Various Expectations Of Choices Available And The Degree Of Variance In Performance Which Is Tolerable. The Greater The Number Of Selections, The Less Will Be The Average Year-to-year Variation In Actual Versus Expected Results. Also, The Lower Will Be The Expected Results, Assuming Different Choices Have Different Expectations Of Performance.

You Don't Want 300 Million Americans Putting Their Money Under The Mattress.