We may buy a little bit of a stock, to get our feet wet and get a feeling for it.
By setting up Berkshire Hathaway, Warren has done everything very rationally.
Try to buy assets at a discount than to buy earnings.
The market is a very emotional place that appeals to fear and greed.
Earnings can change dramatically. Usually assets change slowly.
I have been around a long time and Wall Street has changed a lot.