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“The art of investment has one characteristic that is not generally appreciated. A creditable, if unspectacular, result can be achieved by the lay investor with a minimum of effort and capability; but to improve this easily attainable standard requires much application and more than a trace of wisdom. If you merely try to bring just a little extra knowledge and cleverness to bear upon your investment program, instead of realizing a little better than normal results, you may well find that you have done worse.”

“Wilderness is a resource which can shrink but not grow. Invasions can be arrested or modified in a manner to keep an area usable either for recreation, science or for wildlife, but the creation of new wilderness in the full sense of the word is impossible. It follows, then, that any wilderness program is a rearguard action, through which retreats are reduced to a minimum.”

“Higher minimum wages, full-employment programs, early-childhood education: Those kinds of programs are, by design, universal, but by definition, because they are helping folks who are in the worst economic situations, are most likely to disproportionately impact and benefit African Americans. They also have the benefit of being sellable to a majority of the body politic.”