By the way, I'm not sure the managing director who was 50 in 2005 understood that the job had changed - that when he or she came out of school in 1986, that it was different. How would they know? We've got to admit that.

That is the brilliant thing about the millennials. They're not obsessing about, "Hey, there is not going to be a job for me" - they're trying to take advantage of how good a life they can have without having to create so much nominal income.

In each business, there is a process, or a delivery system or information system, that is changing rapidly under them.

There was a time when people thought that if you piled a bunch of mortgages together, the top of the pile was AAA. There are a lot of things that become consensus.

It was phenomenal to see what was going on there. I came away from there so energized about India, and I was pretty sure that [Narenda] Modi was going to win an election that wasn't easy to see.

I think [millenials] are taking advantage of deflationary forces to improve their life while not maybe having to chase the nominal money that was needed to buy a whole car, a whole house, a whole couch.

If you're not exposing yourself to a non-consensus view somehow over the course of a day, you can reject them, but you should expose yourself to them.