I was lucky enough to be born in a time and place where society values my talent, and gave me a good education to develop that talent, and set up the laws and the finanical system to let me do what I love doing-and make a lot of money doing it. The least I can do is help pay for all that.

SUPPOSE that an investor you admire and trust comes to you with an investment idea. This is a good one, he says enthusiastically. I'm in it, and I think you should be, too.

There's not many businesses where someone can come in and offer to cut the price in half and somebody doesn't think about shifting. But that's the nature of the ratings business.

I'm always interested in understanding the math of things and understanding as much as I can about all aspects of business. And what I learn today may be useful to me two years from now. That's really the wonderful thing about investments is your knowledge is cumulative.

Your money can be inflated away but your knowledge and talent cannot.

If you look at the Forbes 400, they are paying a lower rate, accounting payroll taxes, than their secretary or - whomever around their office.

Just look at that Forbes 400. Takes a billion three to get on the Forbes 400 this year. And the aggregate wealth is just staggering. And those people are paying less percentage of their total income to the federal government than their receptionists are. [...] I'll bet a million dollars against any member of the Forbes 400 who challenges - me that the average for the Forbes 400 will be less than the average of their receptionists.