We Really Can Say No In 10

As I Have Mentioned Before, We Cannot Make The Same Sort Of Money Out Of Permanent Ownership Of Controlled Businesses That Can Be Made From Buying And Reselling Such Businesses, Or From Skilled Investment In Marketable Securities. Nevertheless, They Offer A Pleasant Long Term Form Of Activity (when Conducted In Conjunction With High Grade, Able People) At Satisfactory Rates Of Return.

We Will Continue To Ignore Political And Economic Forecasts, Which Are An Expensive Distraction For Many Investors And Businessmen. Thirty Years Ago, No One Could Have Foreseen The Huge Expansion Of The Vietnam War, Wage And Price Controls, Two Oil Shocks, The Resignation Of A President, The Dissolution Of The Soviet Union, A One-day Drop In The Dow Of 508 Points, Or Treasury Bill Yields Fluctuating Between 2.8% And 17.4%.

They [goverment] Take From The Woman Who Comes In And Takes The Wastebaskets Out.

We Don't Have To Be Smarter Than The Rest. We Have To Be More Disciplined Than The Rest.

... It's Important To Have The Right Monetary Policy. It's Important For, To Have The Right Fiscal Policy. But It's Nowhere Near As Important As Just The Normal Regenerative Capacity Of American Capitalism.