A prediction about the direction of the stock market tells you nothing about where stocks are headed, but a whole lot about the person doing the predicting.

If AIG had tried to unwind their derivatives books. I don't know. It would have hit every institution in the world.

We intend to continue our practice of working only with people whom we like and admire. This policy not only maximizes our chances for good results, it also ensures us an extraordinarily good time.

You need a lot of curiosity for a long, long time.

Having first rate people on the team is more important than designing hierarchies and clarifying who reports to whom.

I never try to predict the market.

When we really sit back with a smile on our face is when we run into a situation we can understand, where the facts are ascertainable and clear, and the course of action obvious.