Today People Who Hold Cash Equivalents Feel

There Is No Question That An Important Service Is Provided To Investors By Investment Companies, Investment Advisors, Trust Departments, Etc. This Service Revolves Around The Attainment Of Adequate Diversification, The Preservation Of A Long-term Outlook, The Ease Of Handling Investment Decisions And Mechanics, And Most Importantly, The Avoidance Of The Patently Inferior Investment Techniques Which Seem To Entice Some Individuals.

The Important Thing Is To Keep Playing, To Play Against Weak Opponents And To Play For Big Stakes.

We Will Continue To Ignore Political And Economic Forecasts, Which Are An Expensive Distraction For Many Investors And Businessmen. Thirty Years Ago, No One Could Have Foreseen The Huge Expansion Of The Vietnam War, Wage And Price Controls, Two Oil Shocks, The Resignation Of A President, The Dissolution Of The Soviet Union, A One-day Drop In The Dow Of 508 Points, Or Treasury Bill Yields Fluctuating Between 2.8% And 17.4%.

... But The Important Thing Is That When You Do Find One Where You Really Do Know What You Are Doing, You Must Buy In Quantity.... Charlie And I Have Made A Dozen Or So Very Big Decisions Relative To Net Worth, Although Not As Big As They Should Have Been. And In Each Of Those, We've Known That We Were Almost Certain To Be Right Going In.

Our System Works. Over Time, People Will Live Better And Better. We Have A System That Unleashes Human Potential, And Now China Has A System That Unleashes Human Potential. We Will Have Interruptions. We Overshoot And Undershoot Sometimes, But Your Kids And Grandkids Will Live Better Than You. Over Time, We Move Ahead At A Pretty Damn Rapid Rate.