We rarely use much debt and, when we do, we attempt to structure it on a long-term fixed rate basis. We will reject interesting opportunities rather than over-leverage our balance sheet. This conservatism has penalized our results but it is the only behavior that leaves us comfortable, considering our fiduciary obligations to policyholders, depositors, lenders and the many equity holders who have committed unusually large portions of their net worth to our care.

If I knew where I was going to want to live the next five or 10 years I would buy a home and I'd finance it with a 30-year mortgage... It's a terrific deal.

Don't settle for anything other than your passion - if you're lucky enough to find it.

I prefer liquor store robbers with hungry kids to companies that locate offshore to avoid U.S. taxes.

I get to do what I like to do every single day of the year.

Traditional wisdom is long on tradition and short on wisdom.

If you want your business to survive for 100 years, you've got to make it through every single day for 100 years. It's not enough to do it 99.9% of the time.