It's a good habit to trumpet your failures and be quiet about your successes.

You're not going to get very far in life based on what you already know. You're going to advance in life by what you're going to learn after you leave here.

For many of our shareholders, our stock is all they own, and we're acutely aware of that. Our culture [of conservatism] runs pretty deep.

How should the best parts of psychology and economics interrelate in an enlightened economist's mind?... I think that these behavioral economics...or economists are probably the ones that are bending them in the correct direction. I don't think it's going to be that hard to bend economics a little to accommodate what's right in psychology.

People calculate too much and think too little.

Remember that reputation and integrity are your most valuable assets - and can be lost in a heartbeat.

One metric catches people. We prefer businesses that drown in cash. An example of a different business is construction equipment. You work hard all year and there is your profit sitting in the yard. We avoid businesses like that. We prefer those that can write us a check at the end of the year.