In our experience, what we have found is the rare commodity is a good management team. And good management teams manage through good and bad cycles and manage to grow their business over a long period of time.

We're certainly interested in maximizing our return and doing it - we're interested in maximizing our return, but we're also interested in doing it over a long period of time and in doing it in a way that never endangers the firm from a survivability standpoint.

Humility is what makes teams great. I've preached it for a long period of time.

A kaiseki meal is like that, very small courses over a long period of time.

In my long innings, I have seen many sunrises and many sunsets; many good and bad times.

When a management team with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.