Subject: Re: Brk annual meeting questions,
Say you're thinking about buying a nice big farm. If the northern field of a farm gets more water and has been more productive than the southern field for the last century, you don't make a huge wager that this will remain true just because it has always been true. First you check to see if there are new problems in the northern field's water supply...

I believe the underlying water table, soil quality and the climate are all just fine.
We hired a know-nothing who thinks he knows everything, looks out for himself first, and has bankrupted most everything he managed.

Now, he can salt the Earth, send some water away to the Eastern corner because there is a fire in the Western corner, beat up the nice neighbors thinking that maybe now people will consider him to be a real man and so on. The question is, can he cause lasting damage or can we bounce back? At some point, being mortal, he will be gone. Call me an optimistic fool, but I think America has bounced back from worse, although I don't know if this will be worse than the worst so far.
For the next N years, N < = or > 4 unknown at this point, what Jim said is true. My consolatory belief is that N < min(infinity, till I die).