Warren Buffett: Markets can do anything

“Markets can do anything. If you look at the history of markets, you see everything under the sun. But we have no time frame [for doing something]. If the money piles up, then it piles up. And when we see something that makes sense, we’re willing to act very fast and very big. But we’re not going to act on anything if it doesn’t check out. You don’t get paid for activity. You only get paid for being right.”

—Warren Buffett (1998 Berkshire Hathaway Annual Meeting, via Outstanding Investor Digest).