We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.

I don't think you can have a better secretary of the Treasury than Hank Paulson.

I'd rather have a $10 million business making 15 per cent than a $100 million business making 5 per cent.

In an inflationary world, a toll bridge (like company) would be a great thing to own because you've laid out the capital costs. You built it in old dollars and you don't have to keep replacing it.

I mean there is no capital requirements to it or anything of the sort. And basically, I said there were possibly financial weapons of mass destruction, and they had them. They destroyed AIG. They certainly contributed to the destruction of Bear Sterns and Lehman. Although Lehman had other problems, too.

... the best way to own common stocks is through an index fund.

People went crazy with tulip bulbs. They went crazy with the South Sea Bubble, they went crazy internet stocks, they went crazy with the uranium stocks back when I was first getting started.