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

How do you beat Bobby Fischer? You play him at any game but chess. I try to stay in games where I have an edge.

I don't want to give a lecture to this body that's out there. You know, I mean, having had the heart attack, I want to get it back functioning. And as a practical matter, I mean if you were Bear Stearns, and you were a shareholder, you know, you lost 90 to 95 percent of your money. A good many lost their jobs. They lost very cushy lives, many of them.

If you're extremely rich, and you have got children, my theory was, you give them enough so they can do anything, but not enough so they can do nothing.

I have three boxes on my desk: In, Out, and Too Hard.

They say the chains of habit are too light to be felt until they are too heavy to be broken. The chains you put around yourself now have enormous consequences as you go through life.

It's quite clear that stocks are cheaper than bonds. I can't imagine anybody having bonds in their portfolio when they can own equities, a diversified group of equities. But people do because they, the lack of confidence. But that's what makes for the attractive prices. If they had their confidence back, they wouldn't be selling at these prices. And believe me, it will come back over time.