As found in the soon-to-be-released (later this week) third edition of Lawrence Cunningham’s The Essays of Warren Buffett: Lessons for Corporate America. This excerpt is from Warren Buffett’s 1999 shareholder letter:
Berkshire will someday have opportunities to deploy major amounts of cash in equity markets -- we are confident of that. But, as the song goes, "Who knows where or when?" Meanwhile, if anyone starts explaining to you what is going on in the truly-manic portions of this "enchanted" market, you might remember still another line of song: "Fools give you reasons, wise men never try."