Never get too hung up on mistakes.

An investor should ordinarily hold a small piece of an outstanding business with the same tenacity that an owner would exhibit if he owned all of that business.

We set no volume goals in our insurance business generally-and certainly not in reinsurance-as virtually any volume can be achieved if profitability standards are ignored.

If you can eliminate the government as a 39.6% partner, then you will be much better off.

If the reason for doing something is that everyone else is doing it, it's not a good enough reason.

Our stay-put behavior reflects our view that the stock market serves as a relocation center at which money is moved from the active to the patient.

I make plenty of mistakes and I'll make plenty more mistakes, too. That's part of the game. You've just got to make sure that the right things overcome the wrong ones.