A lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc.

We may well have a competitive advantage buying decent businesses at decent prices. But they won't be fabulous businesses and fabulous prices. There's too much competition and money out there, with many buyout specialists.

The quality of the medical care delivered, including the pharmaceutical industry, has improved a lot. I don't think it's crazy for a rich country like the USto spend 15% of GDP on healthcare, and if it rose to 16-17%, it's not a big worry.

Opportunity comes to the prepared mind.

It's dangerous to short stocks.

Never, ever, think about something else when you should be thinking about the power of incentives.

The old culture had come out of poverty, out of English customs.