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“In course of time the slow advance of knowledge, which has dispelled so many cherished illusions, convinced at least the more thoughtful portion of mankind that the alterations of summer and winter, of spring and autumn, were not merely the result of their own magical rites, but that some deeper cause, some mightier power, was at work behind the shifting scenes of nature.”

“The most perfect philosophy of the natural kind only staves off our ignorance a little longer: as perhaps the most perfect philosophy of the moral or metaphysical kind serves only to discover larger portions of it. Thus the observation of human blindness and weakness is the result of all philosophy, and meets us at every turn, in spite of our endeavours to elude or avoid it.”

“We rarely use much debt and, when we do, we attempt to structure it on a long-term fixed rate basis. We will reject interesting opportunities rather than over-leverage our balance sheet. This conservatism has penalized our results but it is the only behavior that leaves us comfortable, considering our fiduciary obligations to policyholders, depositors, lenders and the many equity holders who have committed unusually large portions of their net worth to our care.”

“... so large a portion of those who hold much capital, instead of using their various advantages for the greatest good of those around them, employ the chief of them for mere selfish indulgences; thus inflicting as much mischief on themselves, as results to others from their culpable neglect. A great portion of the rich seem to be acting on the principle, that the more God bestows on them, the less are they under obligation to practise any self-denial, in fulfilling his benevolent plan of raising our race to intelligence and holiness.”