To bankrupt a fool, give him information.

Most people are sceptical about the wrong things and gullible about the wrong things.

What we do today has nothing to do with capitalism or socialism. It is a crony type of system that transfers money to the coffers of bureaucrats.

The grandchildren should not bear the debts of the grandparents.

Failure saves lives. In the airline industry, every time a plane crashes the probability of the next crash is lowered by that. The Titanic saved lives because we're building bigger and bigger ships. So these people died, but we have effectively improved the safety of the system, and nothing failed in vain.

When I trade, I don't have an agency problem; I have my neck on the line. When a bank or banker trades, it's not his neck on the line.

Steve Jobs, Bill Gates and Mark Zuckerberg didn't finish college. Too much emphasis is placed on formal education - I told my children not to worry about their grades but to enjoy learning.