It's going to be tough because the economy is going to be getting worse for a while. And it might fall off a cliff if this doesn't pass. But nobody will ever know that if it does.

You get what I call the natural progression, the three Is. The innovators, the imitators, and the idiots.

Basically, the single-most important decision in evaluating a business is pricing power.

In the insurance business, there is no statute of limitation on stupidity.

If I eat 2,700 calories a day, a quarter of that is Coca-Cola.

If you were at Lehman, the same thing happened. If you were at AIG, the shareholders are getting creamed on these things. And those shareholders are not just a bunch of big shots in Wall Street. Those are pension funds, and those are investors all over the country. I wouldn't worry too much about that. Justice won't be perfect on it.

How do you beat Bobby Fischer? You play him at any game but chess. I try to stay in games where I have an edge.