For some odd reason, I had an early and extreme multidisciplinary cast of mind. I couldn't stand reaching for a small idea in my own discipline when there was a big idea right over the fence in somebody else's discipline. So I just grabbed in all directions for the big ideas that would really work.

There must be some wisdom in the folk saying: Its the strong swimmers who drown.

Your life must focus on the maximization of objectivity.

While no real money came down, my family gave me a good education and a marvelous example of how people should behave, and in the end that was more valuable than money. Being surrounded by the right values from the beginning is an immense treasure. Warrenhad that. It even has a financial advantage.

Why should it be easy to do something that, if done well, two or three times, will make your family rich for life?

Understanding how to be a good investor makes you a better business manager and vice versa.

Derivative trading with mark-to-market accounting degenerates into mark-to-model. Two firms make a big derivative trade and the accountants on both sides show a large profit from the same trade.