Whats a longterm investor to do . ll start by asking one the grgreatest value invtors of the lastwo decades. Bob stein, i want t to start with the political climate. Does any of that come into y you philosophyor t the investing. Whats going to becomome law and how does ieffefect the free cashsh flow of comnies or industries we arlooking at. But we cant twhroins all thi stuff from politally active people. Gary thfact tt you have the politicaextremes going on in this cycle . The mararket, 80 of th market. Hedge funds that arerent there with the spreads anynymore. When the trarading has become ridiculous. The ananalysts are look at if somebobody has beaten the estimates or not. We have record volatility we takedvantage of it. Ry so youre working more on the fundamentals and leson the news and currents formation thats out there. There is a differenceetween an investment decion and marketecision. Most anasts, there are real companiebehind those stocks. And you have to value e businesses. Th