"[W]hat have we done with our forests? Chopped them, and burned them, and wasted them; and now almost the last of the great stands of timber are here on the Pacific slope. We are in the center of the best of them. Probably nowhere on earth does there exist a forest to compare in continuous grandeur and unqualified beauty with the Redwoods that are found along the Eel River and to the north."

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To suppose that the value of a common stock is determined purely by a corporation's earnings discounted by the relevant interest rates and adjusted for the marginal tax rate is to forget that people have burned witches, gone to war on a whim, risen to the defense of Joseph Stalin and believed Orson Welles when he told them over the radio that the Martians had landed.

— James Grant