It takes 150 years to build an investment bank and only five minutes to convince you to sell me preferred stock in it at a 10% interest rate.

The extraordinary business does not require good management.

I've often felt there might be more to be gained by studying business failures than business successes.

America should stand for more than just wealth.

Investors making purchases in an overheated market need to recognize that it may often take an extended period for the value of even an outstanding company to catch up with the price they paid.

An IPO is like a negotiated transaction - the seller chooses when to come public - and it's unlikely to be a time that's favourable to you.

If AIG had tried to unwind their derivatives books. I don't know. It would have hit every institution in the world.