When Bills Come Due, Only

I'll Take The Deal, Whatever You Want To Do.

Two Rules: 1. Preserve The Principal 2. When In Doubt, See Rule #1.

I Mean, You Can Explain The Fact That These Are Depressed Prices, You Know. We Think These Assets Are Going To Be Worth A Lot More. And I Think That Case Can Be Made In Certain Situations. But I Think To Just Say, You Know, We're Going To Say A Dollar Of Cash Is Worth $2 All Of A Sudden, It Isn't Worth $2. It's Worth A Dollar Today.

If We Have A Strength, It Is In Recognizing When We Are Operating Well Within Our Circle Of Competence And When We Are Approaching The Perimeter.

In My Opinion, The Entire Field Of Investment Management, Involving Hundreds Of Billions Of Dollars, Would Be More Satisfactorily Conducted If Everyone Had A Good Yardstick For Measurement Of Ability And Sensibly Applied It.