If I were the treasury secretary or head of the Fed, you know, I would try to scare the hell the out of the private sector and say, you better save this because you're going down with the ship.

I'm just lucky to have been in the right place at the right time. Another place, another time, I wouldn't have been as successful. Society enabled me to make my money and my money should go to society.

Lethargy bordering on sloth remains the cornerstone of our investment style. The exception was Wells Fargo, a superbly-managed, high-return banking operation in which we increased our ownership to just under 10%, the most we can own without the approval of the Federal Reserve Board.

I think the Congress will do the right thing. I think that they've - you know, they got into certain arguments and they start worrying about assessing blame, and there is a little demagoguery, but in the end, something this important, they'll do the right thing. So this really is an economic Pearl Harbor. That sounds melodramatic, but I've never used that phrase before. And this really is one.

Does the business have favourable long term prospects?

Buy stocks like you buy your groceries, not like you buy your perfume.

All day you wait for the pitch you like; then when the fielders are asleep, you step up and hit it.