Bad terminology is the enemy of good thinking.

I am not worried about the country. I'm just worried about anything that gums up the potential of the country. And right now, it's pretty gummed up.

I mean, you can explain the fact that these are depressed prices, you know. We think these assets are going to be worth a lot more. And I think that case can be made in certain situations. But I think to just say, you know, we're going to say a dollar of cash is worth $2 all of a sudden, it isn't worth $2. It's worth a dollar today.

This country is going - be living better ten years from now than it is now. It will be living better in 20 years from now than ten years from now. The ingredients that made this country, you know, the miracle of the world - I mean we had a seven for one improvement in the average American standard of living in the 20th century.

Benign neglect, bordering on sloth, remains the hallmark of our investment process.

Does the business have favourable long term prospects?

The Noah rule: Predicting rain doesn't count; building arks does.