The Range Of Derivatives Contracts Is Limited

I Have No Use Whatsoever For Projections Or Forecasts. They Create An Illusion Of Apparent Precision. The More Meticulous They Are, The More Concerned You Should Be. We Never Look At Projections, But We Care Very Much About, And Look Very Deeply At, Track Records. If A Company Has A Lousy Track Record, But A Very Bright Future, We Will Miss The Opportunity.

If You Cannot Control Your Emotions, You Cannot Control Your Money.

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.

Personally, I Really Hope I Can Treat Everyone Equally. I Think I Have Done A Pretty Good Job So Far But I Know I Can Do It Better.

Wild Swings In Share Prices Have More To Do With The "lemming- Like" Behaviour Of Institutional Investors Than With The Aggregate Returns Of The Company They Own.