May it not also be that the cause of civilization itself will be defended by the skill and devotion of a few thousand airmen? There never has been, I suppose, in all the world, in all the history of war, such an opportunity for youth. The Knights of the Round Table, the Crusaders, all fall back into the past.
The Church seems to totter to its fall, almost all life extinct. On this occasion, any complaisance would be criminal which told you, whose hope and commission it is to preach the faith of Christ, that the faith of Christ is preached.
Our future rates of gain will fall far short of those achieved in the past. Berkshire's capital base is now simply too large to allow us to earn truly outsized returns. If you believe otherwise, you should consider a career in sales but avoid one in mathematics.
And people really behaved in a fraudulent way or something, we'll go back and find the culprits later on. But that really isn't the problem we have. I mean that's where it came from, though. We leveraged up and if you have a 20 percent fall in value of a $20 trillion asset, that's $4 trillion. And when $4 trillion lands - losses land in the wrong part of this economy, it can gum up the whole place.
People keep themselves at a tolerable height above an infernal abyss toward which they gravitate only by putting out all their strength and lovingly helping one another. They are tied together by ropes, and it's bad enough when the ropes around an individual loosen and he drops somewhat lower than the others into empty space; ghastly when the ropes break and he falls. That's why we should cling to the others.
O ye dead Poets, who are living still Immortal in your verse, though life be fled, And ye, O living Poets, who are dead Though ye are living, if neglect can kill, Tell me if in the darkest hours of ill, With drops of anguish falling fast and red From the sharp crown of thorns upon your head, Ye were not glad your errand to fulfill?
If you expect to be a net saver during the next 5 years, should you hope for a higher or lower stock market during that period? Many investors get this one wrong. Even though they are going to be net buyers of stocks for many years to come, they are elated when stock prices rise and depressed when they fall. This reaction makes no sense. Only those who will be sellers of equities in the near future should be happy at seeing stocks rise. Prospective purchasers should much prefer sinking prices.
The things we now esteem fixed shall, one by one, detach themselves, like ripe fruit, from our experience, and fall. The wind shall blow them none knows whither.
Rome was so mighty that it could not fall. It had to vanish in a cloud, like so many of the mythical heros of antiquity, and to receive its apotheosis among the stars before men became fully aware that it had vanished from the earth!