The future is never clear; you pay a very high price in the stock market for a cheery consensus. Uncertainty actually is the friend of the buyer of long-term values.

For some reason people take their cues from price action rather than from values. Price is what you pay. Value is what you get.

Americans are in a cycle of fear which leads to people not wanting to spend and not wanting to make investments, and that leads to more fear. We'll break out of it. It takes time.

We have a country where I don't know whether it's a million households a year or more, but good form.

Earnings can be pliable as putty when a charlatan heads the company reporting them.

Never be afraid to ask for too much when selling or offer too little when buying.

As of 1992, in fact-though the picture would have improved since then-the money that had been made since the dawn of aviation by all of this country's airline companies was zero. Absolutely zero.