All day you wait for the pitch you like; then when the fielders are asleep, you step up and hit it.
Buy stocks like you buy your groceries, not like you buy your perfume.
What's nice about investing is you don't have to swing at every pitch.
Resolution Trust Company was set up to liquidate a bunch of assets that the government had inherited because the savings and loans went broke.
We've got more productive capacity now than we ever have.
Accounting consequences do not influence our operating or capital-allocation decisions. When acquisition costs are similar, we much prefer to purchase $2 of earnings that is not reportable by us under standard accounting principles than to purchase $1 of earnings that is reportable.