Philip Morris still generates enormous amounts of cash, ... We're not giving up yet.
It's frustrating in the sense that we look dumber than we really are, ... We own a lot of unpopular but profitable stocks.
When people bought these funds, they bought them because they wanted me to manage the funds, not the directors.
There's only so long you can hold the beach ball under water.
If we get good prices on the businesses we like, I'm willing to buy.
Now that the worst lawsuits are fading it seems a golden opportunity to do that. Kraft is limping.
The whole court system in this country seems a little bizarre, ... When I was a kid, cigarettes were called 'cancer sticks' and 'coffin nails.' To say the companies have been trying to hide things doesn't make sense?The courts tied the tobacco companies' arms behind their backs.
A delay allows people to have less psychology and more orderly behavior.
Back in 1987, the day of the 500-point decline, I started buying like crazy, ... I spent $40 million that day.
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