Things you like to do should be a hobby of yours, but things the world does should be a business of yours.

You’d get very rich if you thought of yourself as having a card with only twenty punches in a lifetime, and every financial decision used up one punch. You’d resist the temptation to dabble. You’d make more good decisions and you’d make more big decisions.

Credit worthiness is like virginity, it can be preserved but not restored very easily, so it is crazy to play around with it.

You have no ability, if you're a financial institution and you're threatened with criminal prosecution, you have no ability to negotiate.

You don't need to be an expert in order to achieve satisfactory investment returns. But if you aren't, you must recognize your limitations and follow a course certain to work reasonably well. Keep things simple and don't swing for the fences.

Goldman Sachs saying they might be interested in such an investment. I'm familiar with the company. I've known the management, the current management, Jack Welch before Jeff Immelt. I've known him for decades.

You are neither right nor wrong because the crowd disagrees with you.