You have a class of investors and you have a class of speculators. The speculators historically haven't been big enough to cause the investors to doubt the long-term vision of stock.

A lot of times when I was short, I would create a level of activity beforehand that would drive the futures. . . . It's a fun game.

Every once in a while, the market does something so stupid it takes your breath away

They don't take eyeballs at the bank. Those who value stocks by eyeballs should go be ophthalmologists, not stock analysts. There is no cyberworld where reach trumps profits.

It's the company itself, but most of these mutual fund companies, the guy who runs the company is just a fact totem and the guy who runs the money is the power. But we really don't know who they are.

I mean that what makes me a professional, but the market itself has been fabulous during this whole period and I've got to give the market credit before I give myself credit.

I am not a hesitant bull, I'm a Pamplona bull.