House prices just soared beyond - beyond reason in many places and they got financed in silly ways, and people lied about loans, all kinds of accesses entered into it. But that is what - that is the single biggest cause of why we're here.
The advice "you never go broke taking a profit" is foolish.
Activity is the enemy of investment returns.
Never lie under any circumstances.
We enjoy the process far more than the proceeds.
When a management with reputation for brilliance gets hooked up with a business with a reputation for bad economics, it's the reputation of the business that remains intact.