Our Policy Is To Concentrate Holdings. We

In The Insurance Business, There Is No Statute Of Limitation On Stupidity.

It Is To Our Advantage To Have Securities Do Nothing Price-wise For Months, Or Perhaps Years, While We Are Buying Them.

John Maynard Keynes Essentially Said, Don't Try And Figure Out What The Market Is Doing. Figure Out A Business You Understand, And Concentrate.

You Know, People Talk About This Being An Uncertain Time. You Know, All Time Is Uncertain. I Mean, It Was Uncertain Back In - In 2007, We Just Didn't Know It Was Uncertain. It Was - Uncertain On September 10th, 2001. It Was Uncertain On October 18th, 1987, You Just Didn't Know It.

If You Owe Money, You Can't Pay Them Out. You Just Pay For Everything, You Do Smart Things, You Eventually Get Very Rich.