The Most Important Quality For An Investor

I Understand Goldman Sachs Businesses. We Do Lot Of Business With Him, And Ge Has Been - I Think It's The Longest Running Stock In The Dow Jones Industrial Average. It Will Be 100 Years Now It Will Be Around. I Hope I'm Around Then, Too. And It Was An Attractive Investment. And We Have Had A Lot Of Money Around, Over The Last Two Years, And We're Seeing Things That Are Attractive Now.

It Makes A Difference Who The Treasury Secretary Is.

As Of 1992, In Fact-though The Picture Would Have Improved Since Then-the Money That Had Been Made Since The Dawn Of Aviation By All Of This Country's Airline Companies Was Zero. Absolutely Zero.

If We Start Deciding, Based On Guesses Or Emotions, Whether We Will Or Won't Participate In A Business Where We Should Have Some Long Run Edge, We're In Trouble.

Ben's Mr. Market Allegory May Seem Out-of-date In Today's Investment World, In Which Most Professionals And Academicians Talk Of Efficient Markets, Dynamic Hedging And Betas. Their Interest In Such Matters Is Understandable, Since Techniques Shrouded In Mystery Clearly Have Value To The Purveyor Of Investment Advice. After All, What Witch Doctor Has Ever Achieved Fame And Fortune By Simply Advising 'take Two Aspirins'?