What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn't be taking it to those who are willing to and are capable of doing so.
Preaching has always been the business of the Asiatics. The Western people are grand in organisation, social institutions, armies, governments, etc.; but when it comes to preaching religion, they cannot come near the Asiatic, whose business it has been all the time, and he knows it, and he does not use too much machinery.
I have always in my own thought summed up individual liberty, and business liberty, and every other kind of liberty, in the phrase that is common in the sporting world, 'A free field and no favor.'
Writing checks to the IRS that include strings of zeros does not bother me ... Overall, we feel extraordinarily lucky to have been dealt a hand in life that enables us to write large checks to the government rather than one requiring the government to regularly write checks to us-say, because we are disabled or unemployed.
The speed at which a business success is recognized, furthermore, is not that important as long as the company's intrinsic value is increasing at a satisfactory rate. In fact, delayed recognition can be an advantage: It may give us the chance to buy more of a good thing at a bargain price.
A man should keep his little brain attic stocked with all the furniture that he is likely to use, and the rest he can put away in the lumber-room of his library, where he can get it if he wants it.