Income earned by the sweat of your brow should be taxed at the lowest rates, not the highest. Capital gains should be taxed at a higher rate.

Speculation leads you the wrong way. It allows you to put your emotions first, whereas investment gets emotions out of the picture.

The business has some problems, substantial problems. You go fix it, you young people. That's what you're there for. Don't believe what the old generation tells you. We don't know a damn thing, including Bogle.

Without getting into brothels, there are ethical capitalists the problem is that there aren't enough of them. It is not "just a few bad apples" that have been evident in our corporations, our investment bankers and our mutual funds, but so many that one has to concede that the barrel itself needs some work.

I will create value for society, rather than extract it.

If you have trouble imagining a 20% loss in the stock market, you shouldn't be in stocks.

Reversion to the mean is the iron rule of the financial markets.