Spend less than you make; always be saving something. Put it into a tax-deferred account. Over time, it will begin to amount to something. This is such a no-brainer.

Since those don’t hit financial reports, the opportunities you had but didn’t accept, most people don’t bother thinking about them very much. At least that is a mistake we don’t make. We rub our own noses in our mistakes in blowing opportunities, as we just did.

One of the first big bubbles, of course, was the huge and horrible South Sea Bubble in England. And the aftermath was interesting. Many of you probably don't remember what happened after the South Sea Bubble, which caused an enormous financial contraction, and a lot of pain. They banned publicly traded stock in England for decades.

In my life there are not that many questions I can't properly deal with using my $40 adding machine and dog-eared compound interest table.

Any year that you don't destroy one of your best-loved ideas is probably a wasted year

A director who gets $150,000 per year from a company and needs the money is not independent.

We want very good leaders who have a lot of power.