This Economy Doesn't Work Well

We Do Not View The Company Itself As The Ultimate Owner Of Our Business Assets But Instead View The Company As A Conduit Through Which Our Shareholders Own Assets.

Occasionally, A Man Must Rise Above Principles.

Making Money Isn't The Backbone Of Our Guiding Purpose; It Is The By-product Of Our Guiding Purpose.

But 300 Million Americans, Their Lending Institutions, Their Government, Their Media, All Believed That House Prices Were Going To Go Up Consistently. And That Got Billed Into A $20 Trillion Residential Home Market. Lending Was Done Based On It, And Everybody Did A Lot Of Foolish Things.

An Argument Is Made That There Are Just Too Many Question Marks About The Near Future; Wouldn't It Be Better To Wait Until Things Clear Up A Bit? You Know The Prose: "maintain Buying Reserves Until Current Uncertainties Are Resolved," Etc. Before Reaching For That Crutch, Face Up To Two Unpleasant Facts: The Future Is Never Clear And You Pay A Very High Price For A Cheery Consensus. Uncertainty Actually Is The Friend Of The Buyer Of Long-term Values.