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“A price decline is of no real importance to the bona fide investor unless it is either very substantial say, more than a third from cost or unless it reflects a known deterioration of consequence in the company's position. In a well-defined bear market many sound common stocks sell temporarily at extraordinary low prices. It is possible that the investor may then have a paper loss of fully 50 per cent on some of his holdings, without any convincing indication that the underlying values have been permanently affected.”

“Recollections of the past and visions of the present come to bear me company; the meanest man to whom I have ever given alms appears, to add his mite of peace and comfort to my stock; and whenever the fire within me shall grow cold, to light my path upon this earth no more, I pray that it may be at such an hour as this, and when I love the world as well as I do now.”

“Eventually private enterprise will be able to send people into orbit, but I suspect initially it's going to have to be with NASA's help. Whether it's going to be a consortium or one entity remains to be seen. I could be wrong. I could be one of the old fogies! Rocket science is tough, and rockets have a way of failing. It happens. A company has to be willing to bear the risk of its rocket failing. It's a very large capital investment.”