Speaker unverified: belief

Transcript context

…Is it too pessimistic of a view to say that the world seems to be out of good ideas to match the amount of capital out there looking for good ideas? It was never easy. It's thoroughly understood it was never easy, and it's harder now. Those are the two. But it takes time. And you pay attention that you're handling the people you deal with. You want a good reputation when you're all done, not a bad one. I don't think you're saying there are no opportunities whatsoever. I think you're just saying low expectations and fewer bonanzas. The beauty of it is: you only have to get rich once. You don't have to climb this mountain four times. You just have to do it once. Well that’s your philosophy on both sides, you got to be patient for the great opportunities. But you got to recognize them when they come and pounce. We turned off the mics to have dinner and then recorded a little bit more later in the evening about Costco and some life advice from Charlie.…

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