And there was nothing happening in Texaco, Exxon, Mobil, Royal Dutch and Shell. If you owned those so-called great companies, you weren't too happy.

It's just stupid. When's all this stuff going to happen? What's going to happen between now and then? You invest because you see a trend that's real, because you see a real business.

I don't think it's a sign of give-up. They don't need all that cash to grow.

I think it really helps the administration's case on this tax cut. It's a real company saying OK, we're responding to government incentive.

Don't do this at home. You need to know what you're doing and be on top of it every minute of every day.

The quality of reported earnings went down pretty badly during the bull market.