I mean, you may be very mad at some guy that walked away with a huge golden parachute, but that really isn't the important thing.

It's quite clear that stocks are cheaper than bonds. I can't imagine anybody having bonds in their portfolio when they can own equities, a diversified group of equities. But people do because they, the lack of confidence. But that's what makes for the attractive prices. If they had their confidence back, they wouldn't be selling at these prices. And believe me, it will come back over time.

I read annual reports of the company I'm looking at and I read the annual reports of the competitors - that is the main source of material.

What we really want to do is buy businesses that we would be happy to own forever.

Our stay-put behavior reflects our view that the stock market serves as a relocation center at which money is moved from the active to the patient.

If I got any good ideas out of that or I think they're good ideas, I'll be glad to contribute them but the system will probably overdo some other things.

Someone's sitting in the shade today because someone planted a tree a long time ago. The person sitting in the shade now should be grateful for the person who planted and tended that tree. That includes all those benefactors of humanity throughout history that created, invented, financed, produced, maintained and improved all that we enjoy today.