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.

Too often, a vast collection of possessions ends up possessing its owner. The asset I most value, aside from health, is interesting, diverse, and long-standing friends.

In a difficult business, no sooner is one problem solved than another surfaces - never is there just one cockroach in the kitchen.

What the human being is best at doing is interpreting all new information so that their prior conclusions remain intact.

In looking for people to hire, look for three qualities: integrity, intelligence and energy. And if they don't have the first, the other two will kill you.

Why not invest your assets in the companies you really like? As Mae West said, 'Too much of a good thing can be wonderful'.

Exercise humility and restraint.