In the 1930s, there was a stretch where you could borrow more against the real estate than you could sell it for. I think that's what's going on in today's private-equity world.

Projections are put together by people who have an interest in a particular outcome, have a subconscious bias, and its apparent precision makes it fallacious. They remind me of Mark Twain's saying, 'A mine is a hole in the ground owned by a liar.' Projections in America are often a lie, although not an intentional one, but the worst kind because the forecaster often believes them himself.

A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management & Business

The cost of being a publicly traded stock has gone way, way up. It doesn't make sense for a little company to be public anymore. A lot of little companies are going private to be rid of these burdensome requirements.

The laws of thermodynamic s are such that if the water is getting warmer - and I believe it is - the energy of the weather is going to go up.

It's been my experience in life if you just keep thinking and reading, you don't have to work.

Whoever makes you smarter a little earlier in life makes you better