Im a cynic about corporate democracy and boards.

Im a cynic about corporate democracy and boards.

Now the guy that got to the top, the CEO, would obviously be stupid to have a number two guy who was a lot smarter than he is. So by definition, since he's a survivor and he got to the top and he isn't that brilliant, his number two guy is going to always be a little worse than he is. So, as time goes on, it's anti-Darwinism, the survival of the un- fittest.

When friends and acquaintances are telling you [that] you are a genius, before you accept their opinion, take a moment to remember what you always thought of their opinions in the past.

In life and business, there are two cardinal sins. The first is to act precipitously without thought and the second is to not act at all.

We're not about liquidating companies, but if you do that, why is that terrible? We're not blowing up the factories. The person who buys it should be able to make the asset more productive.

You learn in this business.. If you want a friend, get a dog.