Cash combined with courage in a time of crisis is priceless.
I never try to predict the market.
In a commodity business, it's very hard to be smarter than your dumbest competitor.
Resolution Trust Company was set up to liquidate a bunch of assets that the government had inherited because the savings and loans went broke.
Stop trying to predict the direction of the stock market, the economy or elections.
In an inflationary world, a toll bridge (like company) would be a great thing to own because you've laid out the capital costs. You built it in old dollars and you don't have to keep replacing it.