On Financial Advisers:"People who expect to earn 10% annually from equities during this century are implicitly forecasting a level of about 24,000,000 on the Dow by 2100. If your adviser talks to you about double-digit returns from equities, explain this math to him ... Many helpers are apparently direct descendants of the queen in Alice in Wonderland, who said: 'Why, sometimes I've believed as many as six impossible things before breakfast.'"
On Capital Investment:
"A company that needs large increases in capital to engender its growth may well prove to be a satisfactory investment. ... It's far better to have an ever-increasing stream of earnings with virtually no major capital requirements. Ask Microsoft or Google."
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