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“You’ve got all these feelings. The stock doesn’t know you own it. The stock just sits there; it doesn’t care what you paid or the fact that you own it. Any feeling I have about the market is not reciprocated. I mean, it is the ultimate cold shoulder we are talking about here.” – Warren Buffett
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July 2026
Security
by W. Gregory Richardson, CFA
Third Quarter 2026
Earnings, Not Feelings
“You’ve got all these feelings. The stock doesn’t know you own it. The stock just sits there; it doesn’t care what you paid or the fact that you own it. Any feeling I have about the market is not reciprocated. I mean, it is the ultimate cold shoulder we are talking about here.” – Warren Buffett