Basically, we try to buy value expressed in the differential between its price and what we think its worth.
Price is the most important factor to use in relation to value.
Ben's emphasis was on protecting his expectation of profit with minimum risk.
When I buy a stock, I have kind of an idea where I want to sell it.
Warren is a very good judge of people and he's a very good judge of businesses.
You have to have confidence in what you're doing.