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

I think the reason why we got into such idiocy in investment management is best illustrated by a story that I tell about the guy who sold fishing tackle. I asked him, "My God, they're purple and green. Do fish really take these lures?" And he said, "Mister, I don't sell to fish." Investment managers are in the position of that fishing tackle salesman.

Whenever you think something or some person is ruining your life, it's you. A victimization mentality is so debilitating.

It would be easier to screw up American Express than Coke or Gillette, but it's an immensely strong business.

When it gets into these spikes, with shortages and uproar and so forth, people go bananas, but that's capitalism.

The safest way to get what you want is to deserve what you want.

...all man's desired geometric progressions, if a high rate of growth is chosen, at last come to grief on a finite earth. And the social system for man on earth is fair enough, eventually, that almost all massive cheating ends in disgrace.