I Try To Buy Stock In Businesses

Does The Business Have A Consistent Operating History?

One Observer Commenting On Security Analysts Over Forty Stated: "they Know Too Many Things That Are No Longer True." As Long As I Am "on Stage", Publishing A Regular Record And Assuming Responsibility For Management Of What Amounts To Virtually 100% Of The Net Worth Of Many Partners, I Will Never Be Able To Put Sustained Effort Into Any Non-bpl Activity. If I Am Going To Participate Publicly. I Can't Help Being Competitive. I Know I Don't Want To Be Totally Occupied With Out-pacing An Investment Rabbit All My Life. The Only Way To Slow Down Is To Stop.

The Single Most Important Decision In Evaluating A Business Is Pricing Power.

You Can Lose Leverage, And It's The Only Way A Smart Guy Can Go Broke.

Inflation Could Be A Very - Is A Likely Consequence Out Of What's Going On Now.