Bull Markets And Bear Markets Can Obscure

People Always Should Know Better. People Don't Get - They Don't Get Smarter About Things That Get As Basic As Greed.

After 25 Years Of Buying And Supervising A Great Variety Of Businesses, Charlie [munger] And I Have Not Learned How To Solve Difficult Business Problems. What We Have Learned Is To Avoid Them. To The Extent We Have Been Successful, It Is Because We Have Concentrated On Identifying One-foot Hurdles That We Could Step Over Rather Than Because We Acquired Any Ability To Clear Seven-footers.

Time Is The Friend Of The Wonderful Company, The Enemy Of The Mediocre.

The Rich Invest In Time, The Poor Invest In Money.

People Should Always Know Better.