Mr. Market Is Your Servant, Not Your

The True Investor Welcomes Volatility ... A Wildly Fluctuating Market Means That Irrationally Low Prices Will Periodically Be Attached To Solid Businesses.

Take The Probability Of Loss Times The Amount Of Possible Loss From The Probability Of Gain Times The Amount Of Possible Gain. That Is What We're Trying To Do. It's Imperfect, But That's What It's All About.

I Mean, Hank Paulson Is In There [ Treasury] At The Wrong Time, Probably Shouldn't Have Taken The Job. He's A Friend Of Mine. But He Knows Markets, He Knows Corporations' Work, He Knows Money, And He's Got The Interests Of The Country At Heart.

One Of The Ironies Of The Stock Market Is The Emphasis On Activity. Brokers, Using Terms Such As 'marketability' And 'liquidity,' Sing The Praises Of Companies With High Share Turnover... But Investors Should Understand That What Is Good For The Croupier Is Not Good For The Customer. A Hyperactive Stock Market Is The Pick Pocket Of Enterprise.

The Good Thing Is, We Have Household Formation In This Country.