Whenever I read the newspaper, I say to myself, 'At least my wife loves me.'

If financial assets no longer work for you at a rate far and above the rate of true wealth creation, then you must work longer for your money.

Why is it possible to rescue S&L buccaneers in the early '90s and provide guidance to levered Wall Street investment bankers during the 1998 long-term capital management crisis, yet throw 2 million homeowners to the wolves in 2007?

If companies don't know that they can run out of money, they won't be thinking of ways not to run out of money.

People have different impressions of themselves, and where reality lies is somewhere in between.

I am tough but I have a soft side.

The market can move for irrational reasons, and you have to be prepared for that, ... you need to make big bets when the odds are in your favor -- not big enough to ruin you, but big enough to make a difference.