What makes investment hard, as I said at USC, is that it’s easy to see that some companies have better businesses than others. But the price of the stock goes up so high that all of a sudden, the question of which stock is the best to buy gets quite difficult. We’ve never eliminated the difficulty of that problem. And 98 percent of the time, our attitude toward the market is that we’re agnostics. We don’t know. Is GM valued properly vis-à-vis Ford? We don’t know. We’re always looking for something where we think we have an insight that gives us a big statistical advantage. Sometimes it comes
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