It's much easier to stay out of trouble now than to get out of trouble later.

Activity is the enemy of investment returns.

If you’re in the luckiest one per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent.

The best business returns are usually achieved by companies that are doing something quite similar today to what they were doing five or ten years ago.

The American worker is more productive than he's ever been.

I'll tell you why I like the cigarette business. It cost a penny to make. Sell it for a dollar. It's addictive. And there's a fantastic brand loyalty.

It's just that I landed up in a terrific capitalist system. One that pays people who allocate capital extraordinarily well. Intrinsically, I'm not worth as much as somebody who invents something that could improves people's life, or health or whatever.