There is bound to be a regression toward the mean.

In the LBO field there is a buried "covariance" with marketable equities, toward disaster in generally bad business conditions, and competition is now extremely intense.

I don't spend much time regretting the past, once I've taken my lesson from it. I don't dwell on it.

When you borrow a man's car, always return it with a tank of gas.

I'd rather throw a viper down my shirt front than hire a compensation consultant.

It took us months of buying all the Coke stock we could to accumulate $1 billion worth - equal to 7% of the company. It's very hard to accumulate major positions.

In investment management today, everybody wants not only to win, but to have a yearly outcome path that never diverges very much from a standard path except on the upside. Well, that is a very artificial, crazy construct. That's the equivalent in investment management to the custom of binding the feet of Chinese women