But to truly transform our economy, protect our security, and save our planet from the ravages of climate change, we need to ultimately make clean, renewable energy the profitable kind of energy. So I ask this Congress to send me legislation that places a market-based cap on carbon pollution and drives the production of more renewable energy in America.
Would your reply possibly be this? Well, it all depends on what my tax rate will be on the gain you're saying we're going to make. If the taxes are too high, I would rather leave the money in my savings account, earning a quarter of 1 percent. Only in Grover Norquist's imagination does such a response exist.
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.
I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business. I read and think. So I do more reading and thinking, and make less impulse decisions than most people in business. I do it because I like this kind of life.
A branding program should be designed to differentiate your cow from all the other cattle on the range. Even if all the cattle on the range look pretty much alike.
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.
Discourage litigation. Persuade your neighbors to compromise whenever you can. As a peacemaker the lawyer has superior opportunity of being a good man. There will still be business enough.
None of this means, however, that a business or stock is an intelligent purchase simply because it is unpopular; a contrarian approach is just as foolish as a follow-the-crowd strategy. What's required is thinking rather than polling. Unfortunately, Bertrand Russell's observation about life in general applies with unusual force in the financial world: "Most men would rather die than think. Many do."
Of course, the advantage is that, being in this business, you get to learn a lot, experience a lot of new things, and you can become real successful. The disadvantage is, of course the negative media. People may try to manipulate you and control you, and those are the things you have to avoid. But if you maintain strong family values and you believe in God, you can be successful. So, it's been tough, but I've gotten through it because I stuck with my family and my deep belief in God.