If we have a strength, it is in recognizing when we are operating well within our circle of competence and when we are approaching the perimeter.

Let only individuals contribute - with sensible limits per election. Otherwise, we are well on our way to ensuring that a government of the moneyed, by the moneyed, and for the moneyed shall not perish from the earth.

I think that they hoped the private sector would come in. And the private sector tried to come in until they saw the size of the problem. I mean, from were people on that weekend that thought they'd had a solution. And then the hole kept getting bigger and bigger. And all of a sudden became apparent that 20 billion wouldn't do it and 30 billion wouldn't do it and 40 billion wouldn't do it. So it got beyond anybody's ability to certainly to do it in a short period of time.

Why not invest your assets in the companies you really like? As Mae West said, 'Too much of a good thing can be wonderful'.

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.

It's just that right now the athlete's on the floor. But we - this is a super athlete.

Managers and investors alike must understand that accounting numbers are the beginning, not the end, of business valuation.