Time Is The Friend Of The Wonderful

When We Own Portions Of Outstanding Businesses With Outstanding Managements, Our Favorite Holding Period Is Forever.

Yeah, We Don't Consider Many Stupid Things. I Mean, We Get Rid Of 'em Fast...just Getting Rid Of The Nonsense -- Just Figuring Out That If People Call You And Say, 'i've Got This Great, Wonderful Idea', You Don't Spend 10 Minutes Once You Know In The First Sentence That It Isn't A Great, Wonderful Idea...don't Be Polite And Go Through The Whole Process.

The First Rule Is Not To Lose. The Second Rule Is Not To Forget The First Rule.

When We Went Crazy, And We Did Go Crazy On Residential Real Estate, It Set Things In Motion That Just - The Dominoes Started Toppling.

Continually Challenge And Be Willing To Amend Your Best Loved Ideas.