[W]e think the very term 'value investing' is redundant. What is 'investing' if it is not the act of seeking value at least sufficient to justify the amount paid? Consciously paying more for a stock than its calculated value -- in the hope that it can soon be sold for a still-higher price -- should be labeled speculation (which is neither illegal, immoral nor -- in our view -- financially fattening).
Think about that. Two hundred and eighty-five new or expanded programs, $2 trillion more in new spending, and not one new bureaucrat to file out the forms or answer the phones?
It is the history of our kindnesses that alone make this world tolerable. If it were not for that, for the effect of kind words, kind looks, kind letters . . . I should be inclined to think our life a practical jest in the worst possible spirit.
Remembering that Peter denied his Lord with an oath, after most solemnly protesting that he never would, I will not swear I will make no committals; but I do think I will not.
Whatever God felt about anything, He still feels. Whatever He thought about anyone, He still thinks. Whatever He approved, He still approves. Whatever He condemned, He still condemns. Today we have what they call the relativity of morals. But remember this God never changes. Holiness and righteousness are conformity to the will of God. And the will of God never changes for moral creatures.
Shares are not mere pieces of paper. They represent part ownership of a business. So, when contemplating an investment, think like a prospective owner.
Anything that forces you to act at the possible harm of your own existence is going to exact a cost. You have to then think about, "Can I pay this? What will this mean to me - to my relationships, to my family, to everybody? What is this going to take? How much of me is this going to take?"
An intellectual hatred is the worst, So let her think opinions are accursed. Have I not seen the loveliest woman born Out of the mouth of Plenty's horn, Because of her opinionated mind Barter that horn and every good By quiet natures understood For an old bellows full of angry wind?
I write differently from what I speak, I speak differently from what I think, I think differently from the way I ought to think, and so it all proceeds into deepest darkness.
There's not many businesses where someone can come in and offer to cut the price in half and somebody doesn't think about shifting. But that's the nature of the ratings business.
I think we need missile defense. But I want to make sure it works, that it's cost effective, that the technologies are operable, that it's our best possible strategy, and that hasn't been shown.