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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.”

“America has invested her religion as well as her morality in sound income-paying securities. She has adopted the unassailable position of a nation blessed because it deserves to be blessed; and her sons, whatever other theologies they may affect or disregard, subscribe unreservedly to this national creed.”

“An atheist before Darwin could have said, following Hume: I have no explanation for complex biological design. All I know is that God isn't a good explanation, so we must wait and hope that somebody comes up with a better one. I can't help feeling that such a position, though logically sound, would have left one feeling pretty unsatisfied, and that although atheism might have been logically tenable before Darwin, Darwin made it possible to be an intellectually fulfilled atheist.”

“Trent Lott has regained a position of leadership. He was the former majority leader who lost his post for racially insensitive commentary. I believe he mentioned that Strom Thurmond in 1948, who ran as a segregationist candidate, should have won. ... But now, sound the irony alarm. He has recaptured a position and his position -- I kid you not -- in the Senate will be minority whip. So, my guess is he takes to that job like, let's say, white on rice.”