The speed at which a business success is recognized, furthermore, is not that important as long as the company's intrinsic value is increasing at a satisfactory rate. In fact, delayed recognition can be an advantage: It may give us the chance to buy more of a good thing at a bargain price.

Confidence in markets and in institutions, it's a lot like oxygen. When you have it, you don't even think about it. It's indispensable. You can go years without thinking about it. When it's gone for five minutes, it's the only thing to think about.

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

I know the country works extremely well. You know, but when it isn't clogged up.

It's a lot easier to buy things than it is to sell them.

I spend twelve hours a week - a little over 10% of my waking hours - playing the game. Now I am trying to figure out how to get by on less sleep in order to fit in a few more hands.

In my view, [the trade deficit] will create political turmoil at some point...Pretty soon, I think there will be a big adjustment.