Good profits simply are not inconsistent with good behavior.

We've actually been pretty good on exports. I mean we are exporting 12% of our GDP now roughly.

I mean, if Pearl Harbor came along, you could have said the planning was wrong by the military ahead of time or maybe the battleships shouldn't have all been in the harbor and all that kind of thing.

Americans are in a cycle of fear which leads to people not wanting to spend and not wanting to make investments, and that leads to more fear. We'll break out of it. It takes time.

Our favorite holding period is forever.

You don't need to have extraordinary effort to achieve extraordinary results. You just need to do the ordinary, everyday things exceptionally well.

Returns decrease as motion increases.