As an investor with small capital, one should prefer businesses that have high returns on capital and that require little incremental investment to grow.
Gen. Schurz thinks I was a little cross in my late note to you. If I was, I ask pardon. If I do get up a little temper I have no sufficient time to keep it up.
Buy a cross section of American industry, and if a cross section of American industry doesn't work, certainly trying to pick the little beauties here and there isn't going to work either.
One of my strengths is I have a pretty even temperament. I don't get too high when it's high and I don't get too low when it's low. And what I found during the course of the presidency, and I suppose this is true in life, is that investments and work that you make back here sometimes take a little longer than the 24-hour news cycle to bear fruit.
We are going to a new world... and no doubt it is there that everything is for the best; for it must be admitted that one might lament a little over the physical and moral happenings of our own world.