Don't invest in pieces of papers (stocks), invest in great businesses underlying them

I'm not worried they're all about the investments we make. I mean, listen, this country - we've got $46,000 or $47,000 of GDP per capita. Now, we've done pretty darn well. We'll do better in the future.

It's class warfare, my class is winning, but they shouldn't be.

When you build a bridge, you insist that it can carry 30,000 pounds, but you only drive 10,000-pound trucks across it. And that same principle works in investing.

What you really want to do in investments is figure out what's important and knowable. If it's unimportant or unknowable you forget about it.

I mean, we'll be pounding on the guy's chest, you know, on the floor, and you know, he's not going to just jump up all of a sudden. So it makes it tough. I mean, it's tough to be in the legislature, you know, and vote for something and then people say, well, you voted all this money and you know, it's all getting spent. It isn't getting spent. It's getting invested. But it's all getting spent. Nothing's happening.

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.