What could be more advantageous in an intellectual contest - whether it be chess, bridge, or stock selection - than to have opponents who have been taught that thinking is a waste of energy?

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

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

In some corner of the world they are probably still holding regular meetings of the Flat Earth Society. We derive no comfort because important people, vocal people, or great numbers of people agree with us. Nor do we derive comfort if they don't.

When I take a look at a company's annual report, if I don't understand it, they don't want me to understand it.

We've used derivatives for many, many years. I don't think derivatives are evil, per se, I think they are dangerous.

What's hot today isn't likely to be hot tomorrow. The stock market reverts to fundamental returns over the long run. Don't follow the herd.