Failure comes from ego, greed, envy, fear, imitation. I have success not because I am smart, but because I am rational.

When the brothel burns down, even the pretty girls have to run out.

Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.

In the long run managements stressing accounting appearance over economic substance usually achieve little of either.

I think the most important factor in getting out of the recession actually is just the regenerative capacity of - of American capitalism.

I want to be able to explain my mistakes. This means I do only the things I completely understand.

I've often felt there might be more to be gained by studying business failures than business successes.