We're perfectly willing to trade away a big payoff for a certain payoff.

I would say that life at 84, I am having as much fun as I've ever had in my life. I mean I get to do what I love every day with the people I love-and it just doesn't get any better than that.

The range of derivatives contracts is limited only by the imagination of man (or sometimes, so it seems, madmen). Say you want to write a contract speculating on the number of twins to be born in Nebraska in 2020. No problem-at a price, you will easily find an obliging counterparty.

My net worth is the market value of holdings less the tax payable upon sale. The liability is just as real as the asset unless the value of the asset declines (ouch), the asset is given away (no comment), or I die with it. The latter course of action would appear to at least border on a Pyrrhic victory.

There is seldom just one cockroach in the kitchen. You know, you turn on the light and, all of sudden, they all start scurrying around.

First, many in Wall Street - a community in which quality control is not prized - will sell investors anything they will buy.

The secret to happiness is having low expectations.