If you build that foundation, both the moral and the ethical foundation, as well as the business foundation, and the experience foundation, then the building won't crumble.

It's one of the most important things at the end of the day, being able to say no to an investment.

I always like to refer managers in corporate America as the renters of the corporate assets, not the owners.

Whales who come up and spout off get harpooned.

If you don't have integrity, you have nothing. You can't buy it.

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.

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.