I get to do what I like to do every single day of the year.

What motivates most gold purchasers is their belief that the ranks of the fearful will grow ... As 'bandwagon' investors join any party, they create their own truth - for a while.

Returns decrease as motion increases.

In other words, the percentage change in book value in any given year is likely to be reasonably close to that year's change in intrinsic value.

Does the business have a consistent operating history?

We set no volume goals in our insurance business generally-and certainly not in reinsurance-as virtually any volume can be achieved if profitability standards are ignored.

Never give up searching for the job that you’re passionate about. Try to find the job you’d have if you were independently rich. Forget about the pay. When you’re associating with the people that you love, doing what you love, it doesn’t get any better than that.