The most effective way to prevent the exploitation of our long-term shareholders is to charge an appropriate fee to short-term traders.

The fee, in effect, reimburses the funds for the costs short-term traders create.

If they charge a rental fee of $100 now, that fee may be $104 in the future, but that is something each business will decide for themselves, ... We'll receive a monthly accounting of rentals and leases from each business and the 4 percent tax will be applied. In the beginning, each business will be required to pay the tax monthly, but later, that can be adjusted to quarterly or every other month, whichever the business prefers.

In some ways, IMS can be viewed as a royalty on the drug industry -- one of the fastest, most consistently growing of all industries.

I have had numerous interviews with reporters who called looking for quotes about tech bargains. I always explain that we believe the best values today are in growing companies outside of the technology sector....To these reporters, it defies common sense that stocks that have declined 80 percent or more are not yet 'values.' That is a testament to how powerful and unprecedented the technology mania was. Even after such large price declines, most of these stocks are still not cheap.

That type of monthly decline was unprecedented, ... We were not comfortable with management's explanation as to why it happened.