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[w]e Think The Very Term 'value Investing' Is Redundant. What Is 'investing' If It Is Not The Act Of Seeking Value At Least Sufficient To Justify The Amount Paid? Consciously Paying More For A Stock Than Its Calculated Value -- In The Hope That It Can Soon Be Sold For A Still-higher Price -- Should Be Labeled Speculation (which Is Neither Illegal, Immoral Nor -- In Our View -- Financially Fattening).

Our Leaders Have Asked For “shared Sacrifice.” But When They Did The Asking, They Spared Me. I Checked With My Mega-rich Friends To Learn What Pain They Were Expecting. They, Too, Were Left Untouched.

For Example: (1) As If Governed By Newton's First Law Of Motion, An Institution Will Resist Any Change In Its Current Direction; (2) Just As Work Expands To Fill Available Time, Corporate Projects Or Acquisitions Will Materialize To Soak Up Available Funds; (3) Any Business Craving Of The Leader, However Foolish, Will Be Quickly Supported By Detailed Rate-of-return And Strategic Studies Prepared By His Troops; And (4) The Behavior Of Peer Companies, Whether They Are Expanding, Acquiring, Setting Executive Compensation Or Whatever, Will Be Mindlessly Imitated.

It's Much Easier To Stay Out Of Trouble Now Than To Get Out Of Trouble Later.

If Anything, Taxes For The Lower And Middle Class And Maybe Even The Upper-middle Class Should Even Probably Be Cut Further. But I Think That People At The High End - People Like Myself - Should Be Paying A Lot More In Taxes. We Have It Better Than We've Ever Had It.