I don't want to hold out false hopes that the - by some magic moment, that things will turn around in a couple months because they wouldn't, Charlie. I mean, and it's a big mistake to try and mislead people.

Buy companies with strong histories of profitability and with a dominant business franchise.

The stock market is a wonderfully efficient mechanism for transferring wealth from the impatient to the patient.

Be fearful when there is greed and be greedy when there is fear.

Charlie and I have a number of filters that things have to get through before we'll think about them.

I did not think I would see the day when, you know, an AIG would not be able to have its checks clear.

If some institution wants to sell you a billion dollars worth of mortgages, they might have to sell 100 million in the market, and then you'll buy the other 900 million on the same terms. Now, the very fact that this has been authorized or will be authorized, I hope, will firm up the market to some degree. And that's fine. But you don't want to have artificial prices being paid.