A delay allows people to have less psychology and more orderly behavior. |
Back in 1987, the day of the 500-point decline, I started buying like crazy, ... I spent $40 million that day. |
If we get good prices on the businesses we like, I'm willing to buy, |
It's frustrating in the sense that we look dumber than we really are, ... We own a lot of unpopular but profitable stocks. |
Management can focus on one business. From a psychological standpoint as well as from a practical standpoint it's a positive move. |
No company is totally immune from disaster, chaos, recession, you name it, ... But on a scale, ours tend to be most recession-proof. |
Now that the worst lawsuits are fading it seems a golden opportunity to do that. Kraft is limping. |
Philip Morris still generates enormous amounts of cash, ... We're not giving up yet. |
The whole court system in this country seems a little bizarre, ... When I was a kid, cigarettes were called 'cancer sticks' and 'coffin nails.' To say the companies have been trying to hide things doesn't make sense?The courts tied the tobacco companies' arms behind their backs. |
There's only so long you can hold the beach ball under water, |
When people bought these funds, they bought them because they wanted me to manage the funds, not the directors. |
Would I like to have a man like Buffett on the board? You bet. But can I blame him for going off? Not at all. But Buffett, with the amount of shares he owns, will still have an influence. |