Death can only be profitable: there's no need to eat, drink, pay taxes, offend people, and since a person lies in a grave for hundreds or thousands of years, if you count it up the profit turns out to be enormous.
A low-cost index fund is the most sensible equity investment for the great majority of investors. My mentor, Ben Graham, took this position many years ago, and everything I have seen since convinces me of its truth.
Why is it that we three hundred and thirty millions of people have been ruled for the last one thousand years by any and every handful of foreigners who chose to walk over our prostrate bodies? Because they had faith in themselves and we had not.
The results of life are uncalculated and uncalculable. The years teach much which the days never know. The persons who compose our company, converse, and come and go, and design and execute many things, and somewhat comes of it all, but an unlooked for result. The individual is always mistaken. He designed many things, and drew in other persons as coadjutors, quarrelled with some or all, blundered much, and something is done; all are a little advanced, but the individual is always mistaken. It turns out somewhat new, and very unlike what he promised himself.
I've already written a section in the annual report for next year explaining why I think in one case that the figures on our balance sheet as calculated are wrong. But it's the standard way of doing it. It's holy writ. The SEC wants us to do it that way, and we'll do it that way, and I'll explain why I think it's wrong and shareholders can read it and see whether they agree with my logic or don't.
I think once you start putting phony figures into financial statements, you get in a lot of trouble. And we've seen so much of that in the last 20 years.
By so many measures, our country is stronger and more prosperous than it was when we first got here. And I'm hopeful we'll build on the progress we've made in the years to come.
Can I just tell you the truth? I get asked to do a lot of stuff. And all of the years that people have asked me to do things for the film festival, I couldn't. And so this year, I thought, "Oh, my god, I don't have a day job. If somebody ask me to do something, I'm going to do it."
Sixty years of Western nations excusing and accommodating the lack of freedom in the Middle East did nothing to make us safe because in the long run stability cannot be purchased at the expense of liberty. ... The global wave of democracy has barely reached the Arab states. For too long, many people in that region have been victims and subjects. They deserve to be active citizens.
We want to see the Iranians engage, and as you know, we have attempted to bring about that engagement over the course of the last three-plus years. It has not proven effective.
I cannot exaggerate the effect of this marvelous sight on my childish imagination. Day after day I asked myself what is electricity and found no answer. Eighty years have gone by since and I still ask the same question, unable to answer it.