We are all wrong so often that it amazes me that we can have any conviction at all over the direction of things to come. But we must.

I think that the public is in and the public is in big, and the public is not, I don't think going to pull out because the public knows what I said about 1987.

I wish it grew on trees, but it takes hard work to make money.

I think that stocks have been this tremendous, tremendous equalizer for people in this country. Guys who can't make a lot of money at their jobs have been able to make a lot of money in the stock market.

Funny, but after trading for more than 15 years, I still am capable of forgetting a cardinal rule: The paper you own, in the end, will be intertwined with the fate of the 30-year bond.

I mean it's the most objective industry in the world. If your numbers stink, you're out. If your numbers are good, you get more money. It's the most Darwinian, it's beautiful, it's brutal, it works.

If you can't find the next McDonald's, I'll find the next McDonald's. But it's vital to be with people who with looking for 'em, because they do exist. They are created.