We Will Reject Interesting Opportunities Rather Than

Forecasts May Tell You A Great Deal About The Forecaster; They Tell You Nothing About The Future.

The Best Investment You Can Make Is In Yourself.

We Rarely Use Much Debt And, When We Do, We Attempt To Structure It On A Long-term Fixed Rate Basis. We Will Reject Interesting Opportunities Rather Than Over-leverage Our Balance Sheet. This Conservatism Has Penalized Our Results But It Is The Only Behavior That Leaves Us Comfortable, Considering Our Fiduciary Obligations To Policyholders, Depositors, Lenders And The Many Equity Holders Who Have Committed Unusually Large Portions Of Their Net Worth To Our Care.

I Mean, If Pearl Harbor Came Along, You Could Have Said The Planning Was Wrong By The Military Ahead Of Time Or Maybe The Battleships Shouldn't Have All Been In The Harbor And All That Kind Of Thing.

The Nature Of Democracy Is Such That When There's - There'll Be Revulsion, Obviously, Towards - That's Never Going To Happen Again.