Continually challenge and be willing to amend your best loved ideas.

There are certain things that cannot be adequately explained to a virgin either by words or pictures.

In a difficult business, no sooner is one problem solved than another surfaces - never is there just one cockroach in the kitchen.

We've long felt that the only value of stock forecasters is to make fortune tellers look good. Even now, Charlie and I continue to believe that short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children.

What's going to happen - things we're doing are going to have some inflationary consequences.

If I got a chance to take one percent of the deal either way, I would make that bet.

You can lose leverage, and it's the only way a smart guy can go broke.