Good judgement?

This has been picked up all over the place, so you might have already seen it. I thought it was good. There are many sections that are quotable, I pick just one. You should just read the whole thing, as I said, picked up all over the place.

"[snip...]I have no interest in any deals in which anyone would like me to participate. I truly do not have a strong opinion about any market right now, other than to say that things will continue to get worse for some time, probably years. I am content sitting on the sidelines and waiting. After all, sitting and waiting is how we made money from the subprime debacle. I now have time to repair my health, which was destroyed by the stress I layered onto myself over the past two years, as well as my entire life -- where I had to compete for spaces in universities and graduate schools, jobs and assets under management -- with those who had all the advantages (rich parents) that I did not. May meritocracy be part of a new form of government, which needs to be established.[snip...] (from Portfolio.com)