Going public is not a business plan.

If you have something at risk, you think differently.

It's not just buying the company. Sure, we picked the right companies, and we picked the right management and, most importantly, we've given them the right incentive to perform.

I was an economics major in college, and every summer after school, I would drive my car from California, from Claremont men's college at the time, to New York. And I worked on Wall Street.

The trouble, in my opinion, with corporate America today, is that everything is thought of in quarters.

We've got a portfolio of companies that range all the way from hotels to television stations and cable TV companies, oil and gas, consumer products, and industrial products. If there's anything that I want to know more about, I have the opportunity. It's right in our portfolio. I can spend time at the factory or with the manangement and learn as much as I want. You can't get bored doing that.

And make sure that capital structure we have in place is the right capital structure. I think that's the reason that we've been successful.