We demand that big business give the people a square deal; in return we must insist that when any one engaged in big business honestly endeavors to do right he shall himself be given a square deal.
Too often, executive compensation in the U.S. is ridiculously out of line with performance. That won't change, moreover, because the deck is stacked against investors when it comes to the CEO's pay. The upshot is that a mediocre-or-worse CEO - aided by his handpicked VP of human relations and a consultant from the ever-accommodating firm of Ratchet, Ratchet and Bingo - all too often receives gobs of money from an ill-designed compensation arrangement.
With Malice toward none, with charity for all, with firmness in the right, as God gives us to see the right, let us strive on to finish the work we are in, to bind up the nation's wounds.
Remember the Three Princes of Serendip who went out looking for treasure? They didn't find what they were looking for, but they kept finding things just as valuable. That's serendipity, and our business [drugs] is full of it.
My dream of politics all my life has been that it is the common business, that it is something we owe to each other to understand and discuss with absolute frankness.
Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy only when others are fearful.
We get twitted now and then on how we made this country. Well, we took the whole business, of course. It's not just that corner that we took from Mexico. When we got it all together, we got a very shapely country-the best continental cut in all the world, between the two oceans and in the right temperature zone.
The strategy we've adopted precludes our following standard diversification dogma. Many pundits would therefore say the strategy must be riskier than that employed by more conventional investors. We disagree. We believe that a policy of portfolio concentration may well decrease risk if it raises, as it should, both the intensity with which an investor thinks about a business and the comfort-level he must feel with its economic characteristics before buying into it.
The ugliest spectacle is that of artists selling themselves. Art as a commodity is an ugly idea... The artist as businessman is uglier than the businessman as artist.