“By now it can be seen why willingness and ability to hold funds uninvested while awaiting real opportunities is the key to success in the battle for investment survival. Market valuations of most securities change in a single period of a very few months by an amount equivalent to many years of dividends or interest coupons. Therefore such changes in value are much more worth while seeking than is straight investment return.” —G. M. Loeb
It was nice meeting you by chance today, Joe. I’ll take you up on the coffee in a few months.