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Our investments continue to be few in number and simple in concept: The truly big investment idea can usually be explained in a short paragraph. We like a business with enduring competitive advantages that is run by able and owner-oriented people. When these attributes exist, and when we can make purchases at sensible prices, it is hard to go wrong (a challenge we periodically manage to overcome).

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Juvenal

The smell of profit is clean and sweet, whatever the source.

Clean, Profit, Smell, Sweet, Wealth
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The venal herd. [Lat. , Venale pecus. ]

Herd, Herds, Lat, Pecus, Venal, Venale

Of the woes Of unhappy poverty, none is more difficult to bear Than that it heaps men with ridicule.

Difficult, Men, Poverty, Unhappy, Woe, Woes

Whatever guilt is perpetrated by some evil prompting, is grievous to the author of the crime. This is the first punishment of guilt that no one who is guilty is acquitted at the judgment seat of his own conscience. [Lat. , Exemplo quodcumque malo committitur, ipsi Displicet auctori. Prima est haec ultio, quod se Judice nemo nocens absolvitur. ]

Acquitted, Evil, Guilt, Haec, Punishment

Our prayers should be for a sound mind in a healthy body. [Lat. , Orandum est ut sit mens sana in corpore sano. ]

Body, Health, Mind, Prayer, Sit

A rare bird on this earth, like nothing so much as a black swan.

Bird, Black, Like, Rare, Swans
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