Nobody in my generation ever started out in private equity. We got there by accident. There was no private equity business - actually, the word didn't even exist - when I started. I got there out of the purest of happenstance and so I think many people find what they really enjoy doing just in that way. So another piece of advice for you is: don't worry too much about what you're going to be doing when you get out of business school - life will come your way.

When governments are selling, you should be buying. And when governments are defaulting, we should look at that as an opportunity.

Generally speaking, you like to dance with the girl that brung you, and if you can't sometimes you have to shoot her.

Nobody in my generation ever started out in private equity. We got there by accident. There was no private equity business - actually, the word didn't even exist - when I started. I got there out of the purest of happenstance and so I think many people find what they really enjoy doing just in that way. So another piece of advice for you is: don't worry too much about what you're going to be doing when you get out of business school - life will come your way.

Every deal is a regulated deal. Regulators will tell you how to take your money home.

Prices are always lower when the troops are in the street.

A good default, like Portugal or Greece, would be very good for the private equity business.