“In general terms, unless you find the prices of a great company really offensive…. I think it’s better just to own them. We could attempt to buy and sell some of the things that we own that we think are fine businesses. But they’re too hard to find…. So, to sit there and hope that you buy them in the throes of some panic, that you sort of take the attitude of a mortician, waiting for a flu epidemic or something…. I’m not sure that will be a great technique…. I think the main thing to do is find wonderful businesses…. We’ve had our share of flu epidemics. But you don’t want to spend your life waiting around for them.” —Warren Buffett.
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