I have worked with investors for 60 years and I have yet to see anyone - not even when capital gains rates were 39.9 percent in 1976-77 - shy away from a sensible investment because of the tax rate on the potential gain.

A pack of lemmings looks like a group of rugged individualists compared with Wall Street when it gets a concept in its teeth.

With enough insider information and a million dollars, you can go broke in a year.

I mean there is no capital requirements to it or anything of the sort. And basically, I said there were possibly financial weapons of mass destruction, and they had them. They destroyed AIG. They certainly contributed to the destruction of Bear Sterns and Lehman. Although Lehman had other problems, too.

Ignore the stock market, ignore the economy, and buy a business you understand.

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.

Never give up searching for the job that you're passionate about.