It's a fairly rare opportunity. It's only once in every 10 years that Microsoft gets this cheap. I just think you've got a great company selling at a third of the price.

Del Taco has cheap fries and tacos at the same place. That's rare.

But I wouldn't bet against these guys, they've shown again and again the ability to innovate.

There's some nice symmetry because now we've taken back the 75 basis points Greenspan gave us last year. The Fed has been saying steady as she goes for the last few years if you add it all up, and maybe this is where we will stop.

It's an under-followed classy insurance stock.

A big sigh of relief.