So if you are evaluating others (or yourself!) in the investment field, think out some standards - apply them - interpret them.

Be fearful when there is greed and be greedy when there is fear.

We've had public companies in the past in that business and they bleed. We've got a lot more blood than they do.

Of our 49 billion, we haven't moved any to Bitcoin

You have to turn over a lot of rocks to find those little anomalies. You have to find the companies that are off the map - way off the map.

If we start deciding, based on guesses or emotions, whether we will or won't participate in a business where we should have some long run edge, we're in trouble.

It is easier to rationalize than it is to be rational.