This is like eating your seed corn, if you pay out more than you earn.

You have to look at the recent rash of mergers in the refining industry. They are not aggressive, but defensive moves to try and somehow form a larger position in the market. But when everyone does the same thing, the effects are soon competed away.

We are seeing much more competition in this industry than we've ever seen before. I think that gradually portfolio managers will start to realize this is not a safe haven. These stocks are expensive.

First-person narrators is the way I know how to write a book with the greatest power and chance of artistic success.

Mile tracks put more emphasis on the driver. On the longer tracks, you can drive flat out all the way around, so it's more of an engineering exercise. On a mile, you can't run flat out. You're constantly in traffic, there's more driver involvement.

And what is an angel but a ghost in drag?