Back in 1987, the day of the 500-point decline, I started buying like crazy,.. I spent 0 million that day.
Donald Yacktman
No company is totally immune from disaster, chaos, recession, you name it,.. But on a scale, ours tend to be most recession-proof.
disaster chaos company recession
day crazy
Philip Morris still generates enormous amounts of cash,.. We're not giving up yet.
giving cash
A delay allows people to have less psychology and more orderly behavior.
people psychology delay behavior
If we get good prices on the businesses we like, I'm willing to buy
good
It's frustrating in the sense that we look dumber than we really are,.. We own a lot of unpopular but profitable stocks.
sense
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.
system sense things court country arms bizarre courts
There's only so long you can hold the beach ball under water
water beach
Now that the worst lawsuits are fading it seems a golden opportunity to do that. Kraft is limping.
opportunity worst
When people bought these funds, they bought them because they wanted me to manage the funds, not the directors.
people
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