I don't get caught up in the moment.

Know what your people are like, and make sure they do their jobs excellently.

I don't think there is such a thing as the perfect system.

In China anything less than 6% growth is a recession meaning that it also causes financial problems and it's disruptive and it's a problem.

The most important thing you can have is a good strategic asset allocation mix. So, what the investor needs to do is have a balanced, structured portfolio – a portfolio that does well in different environments…. we don't know that we're going to win. We have to have diversified bets.

A beautiful deleveraging balances the three options. In other words, there is a certain amount of austerity, there is a certain amount of debt restructuring, and there is a certain amount of printing of money. When done in the right mix, it isn't dramatic.

The pain of problems is a call to find solutions rather than a reason for unhappiness and inaction, so it's silly, pointless, and harmful to be upset at the problems and choices that come at you (though it’s understandable).