You don't want 300 million Americans putting their money under the mattress.

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.

It is madness to risk losing what you need in pursuing what you simply desire.

Be fearful when the markets get greedy, be greedy when the markets get fearful.

Having first rate people on the team is more important than designing hierarchies and clarifying who reports to whom.

Wall Street makes its money on activity. You make your money on inactivity.

We're paying maybe 25 percent of the income tax, but the payroll tax is over a third of the receipts of the federal government. And they don't take that from me on capital gains. They don't take that from me on dividends.