"To break, to spoil, to waste, is not to encourage national labour; or, more briefly, destruction is not profit."
"Such businesses have survived for so long because they have provided what customers wanted through centuries of upheaval."
"When the market punctures, there are companies that we want to add to. The market overreacts. We know the company. We're at 3% and we'd like to be at 6%. We use it as an opportunity. Over the last several years, Japan's market grew more than almost any other equity market, and it's still one of the cheapest markets in the world. It had margin expansion but it had valuation compression."