It's dangerous to short stocks.

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

This is a good life lesson: getting the right people into your system is the most important thing you can do.

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.

Cicero's words also increased my personal satisfaction by supporting my long-standing rejection of a conventional point of view.

Our approach has worked for us. Look at the fun we, our managers, and our shareholders are having. More people should copy us. It's not difficult, but it looks difficult because it's unconventional - it isn't the way things are normally done. We have low overhead, don't have quarterly goals and budgets or a standard personnel system, and our investing is much more concentrated than average. It's simple and common sense.

I have a black belt in chutzpah. I was born with it. Some people, like some of the women I know, have a black belt in spending. They were born with that. But what they gave me was a black belt in chutzpah.