You have no ability, if you're a financial institution and you're threatened with criminal prosecution, you have no ability to negotiate.

What we learn from history is that people don't learn from history.

I'm the luckiest guy in the world in terms of what I do for a living. No one can tell me to do things I don't believe in or things I think are stupid.

Gold is a way of going long on fear, and it has been a pretty good way of going long on fear from time to time. But you really have to hope people become more afraid in a year or two years than they are now. And if they become more afraid you make money, if they become less afraid you lose money, but the gold itself doesn’t produce anything.

If at first you do succeed, quit trying on investing.

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

As an investor with small capital, one should prefer businesses that have high returns on capital and that require little incremental investment to grow.