Knowing the edge of your competency is important. If you think you know more than you do, you will get in trouble.

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

When we went crazy, and we did go crazy on residential real estate, it set things in motion that just - the dominoes started toppling.

Valuing a business is part art and part science.

Truly conservative actions arise from intelligent hypotheses, correct facts and sound reasoning.

The purpose of life is to be loved by as many people as possible among those you want to have love you

When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.