If the devil tells you something is too fearful to look at, look at it. If he says something is too terrible to hear, hear it. If you think some truth unbearable, bear it.
The reason why any one refuses his assent to your opinion, or his aid to your benevolent design, is in you: he refuses to accept you as a bringer of truth, because, though you think you have it, he feels that you have it not. You have not given him the authentic sign.
I don't think I underestimated [Vladimir Putin], but I think that I underestimated the degree to which, in this new information age, it is possible for misinformation for cyber hacking and so forth to have an impact on our open societies, our open systems, to insinuate themselves into our democratic practices in ways that I think are accelerating.
I think when you're governing, it will become increasingly apparent that if you were to just eliminate trade deals with Mexico, for example, well, you've got a global supply chain. The parts that are allowing auto plants that were about to shut down to now employ double shifts is because they're bringing in some of those parts to assemble out of Mexico. And so it's not as simple as it might have seemed.
Confidence in markets and in institutions, it's a lot like oxygen. When you have it, you don't even think about it. It's indispensable. You can go years without thinking about it. When it's gone for five minutes, it's the only thing to think about.
In our view, though, investment students need only two well-taught courses-How to Value a Business, and How to Think about Market Prices. Your goal as an investor should simply be to purchase, at a rational price, a part interest in an easily-understandable business who's earnings are virtually certain to be materially higher five, ten and twenty years from now.
If I ask you to plunge into the Ganga or to jump from the roof of a house, meaning it all for your good, could you do even that without any hesitations Just think of it even now; otherwise don't rush forward on the spur of the moment to accept me as your Guru.