I make no effort to predict the course of general business or the stock market. Period. However, currently there are practices snowballing in the security markets and business world which, while devoid of short term predictive value, bother me as to possible long term consequences.

We don't get paid for activity, just for being right. As to how long we'll wait, we'll wait indefinitely.

The stock market is a wonderfully efficient mechanism for transferring wealth from the impatient to the patient.

I don't try and guess when to get in and out of the market. I have owned stocks consistently since 1942. I owned the - I was buying stocks the day before the election. I was buying the same stocks the day after election. And if Hillary had been elected, it would have been the same thing.

That's the reality of what they're going to sell them to the Treasury for.

If you can't read the scoreboard. You don't know the score. If you don't know the score, you can't tell the winners from the losers.

Would you rather be the world's greatest lover, but have everyone think you're the world's worst lover? Or would you rather be the world's worst lover but have everyone think you're the world's greatest lover? Now, that's an interesting question.