Risk Is A Part Of God's Game,

We Intend To Continue Our Practice Of Working Only With People Whom We Like And Admire. This Policy Not Only Maximizes Our Chances For Good Results, It Also Ensures Us An Extraordinarily Good Time.

In The Great Majority Of Cases We Simply Do Not Know Enough About The Industry Or Company To Come To Sensible Judgments-in That Situation We Pass.

If Knowing History Made You Rich, Librarians Would Be Billionaires.

We Would Do Best In A Market Where Everyone Acted Foolishly.

Paradoxically, When 'dumb' Money Acknowledges Its Limitations, It Ceases To Be Dumb.