Our policy is to concentrate holdings. We try to avoid buying a little of this or that when we are only lukewarm about the business or its price. When we are convinced as to attractiveness, we believe in buying worthwhile amounts.
I'm working for myself; what else have I got to work for? How can you work for an audience? What do you imagine an audience would want? I have got nobody to excite except myself, so I am always surprised if anyone likes my work sometimes. I suppose I'm very lucky, of course, to be able to earn my living by something that really absorbs me to try to do, if that is what you call luck.
Changing the direction of a large company is like trying to turn an aircraft carrier. It takes a mile before anything happens. And if it was a wrong turn, getting back on course takes even longer.
I was popular at some times and not so popular at other times. But what mattered was trying to solve problems and deal with circumstances. Some of which I was able to anticipate. Some of which caught us totally by surprise.
Imagine a world in which you had Saddam Hussein, who had the capacity to make a weapon of mass destruction, who was paying suiciders to kill innocent life. Imagine what the world would be like with him in power. The idea is to try to help change the Middle East. Part of the reason we went into Iraq was we thought he had weapons of mass destruction. It turns out he didn't, but he had the capacity to make weapons of mass destruction.