This Maya is everywhere. It is terrible. Yet we have to work through it. The man who says that he will work when the world has become all good and then he will enjoy bliss is as likely to succeed as the man who sits beside the Ganga and says, "I will ford the river when all the water has run into the ocean."
I have pledged - to you, the rating agencies and myself - to always run Berkshire with more than ample cash. We never want to count on the kindness of strangers in order to meet tomorrow's obligations. When forced to choose, I will not trade even a night's sleep for the chance of extra profits.
We have a strong and vital role to play in Iraq, and we certainly cannot leave a vacuum for the insurgents to take over. We are engaged in a conflict from which America cannot afford to cut and run. We must be steadfast in this endeavor, upon which depends not only our future but that of the entire modern world.
For there is a growing apprehension that existence is a rat-race in a trap: living organisms, including people, are merely tubes which put things in at one end and let them out at the other, which which both keeps them doing it and in the long run wears them out. So to keep the farce going, the tubes find ways of making new tubes, which also put things in at one end and let them out at the other.
Is it not true that the clever rogue is like the runner who runs well for the first half of the course, but flags before reaching the goal: he is quick off the mark, but ends in disgrace and slinks away crestfallen and uncrowned. The crown is the prize of the really good runner who perseveres to the end.
I love wisdom. And you can never be great at anything unless you love it. Not be in love with it, but love the thing, admire the thing. And it seems that if you love the thing, and you don't just want to possess it, it will find you. But if you're in love with the thing, it may run like hell away from you.
There are a few investment managers, of course, who are very good - though in the short run, it's difficult to determine whether a great record is due to luck or talent. Most advisors, however, are far better at generating high fees than they are at generating high returns. In truth, their core competence is salesmanship. Rather than listen to their siren songs, investors - large and small - should instead read Jack Bogle's The Little Book of Common Sense Investing.
We didn't become the most prosperous country in the world just by rewarding greed and recklessness. We didn't come this far by letting the special interests run wild. We didn't do it just by gambling and chasing paper profits on Wall Street. We built this country by making things, by producing goods we could sell.
Jerusalem will remain the capital of Israel and it must remain undivided."Truth: Obama later said, "This was an example where we had some poor phrasing in the speech and we immediately tried to correct the interpretation that was given. The point we were simply making was, is that we don't want barbed wire running through Jerusalem.