I'm not worried they're all about the investments we make. I mean, listen, this country - we've got $46,000 or $47,000 of GDP per capita. Now, we've done pretty darn well. We'll do better in the future.

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.

An investor needs to do very few things right as long as he or she avoids big mistakes.

Yeah, we don't consider many stupid things. I mean, we get rid of 'em fast...Just getting rid of the nonsense -- just figuring out that if people call you and say, 'I've got this great, wonderful idea', you don't spend 10 minutes once you know in the first sentence that it isn't a great, wonderful idea...Don't be polite and go through the whole process.

You do things when the opportunities come along. I've had periods in my life when I've had a bundle of ideas come along, and I've had long dry spells. If I get an idea next week, I'll do something. If not, I won't do a damn thing.

Whatever you like to do, make it a hobby and whatever the world likes to do, make it a business.

Two rules: 1. Preserve the principal 2. When in doubt, see Rule #1.