Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble.

Paradoxically, when 'dumb' money acknowledges its limitations, it ceases to be dumb.

With enough insider information and a million dollars, you can go broke in a year.

The secret is to find what you love to do.I mean, I tell the students look for the job that you would take if you didn't need a job. I mean, it's that simple. And I was lucky enough to find it very early in life. And then the second thing is to have people around you that make feel good every day, and make you a better person than you otherwise would be.

Our system works. Over time, people will live better and better. We have a system that unleashes human potential, and now China has a system that unleashes human potential. We will have interruptions. We overshoot and undershoot sometimes, but your kids and grandkids will live better than you. Over time, we move ahead at a pretty damn rapid rate.

In the end, alchemy, whether it is metallurgical or financial, fails. A base business can not be transformed into a golden business by tricks of accounting or capital structure. The man claiming to be a financial alchemist may become rich. But gullible investors rather than business achievements will usually be the source of his wealth.

I think once you start putting phony figures into financial statements, you get in a lot of trouble. And we've seen so much of that in the last 20 years.