Bill Fries Quotations

It certainly is not a blessing for managed-care companies.

Merrill Lynch was down about $20 at one point. I'm sitting here with my hard hat on, watching things fall...This is not a market where you can do anything except pick up a few stocks that you think are going to do all right long-term.

The December meeting and their plan is pretty important. If they don't show the requisite amount of creativity, the market is not going to treat them kindly.

Cost cutting anyone can do. That's not going to save AOL.

It would seem that maybe it's going to be more difficult for the generic providers to, in a general way, overcome some of the patents.

It's a fair price only if you believe Citigroup is an average company. I think it's an above-average company. That's why they're everywhere.

It's not a very good story at the moment, but that's part of the art of buying things that are out of favor. We see five or six drugs in development that could be billion-dollar products down the road.

I'm not really focused quarter-to-quarter. I'm really focused on the secular trends. And I'm encouraged that the AOL subscription business looks like it's holding together, and they're keeping their market share.

In the last year or so, investors have been oblivious to risk.