Your premium brand had better be delivering something special, or it's not going to get the business.

Of our 49 billion, we haven't moved any to Bitcoin

We do not view the company itself as the ultimate owner of our business assets but instead view the company as a conduit through which our shareholders own assets.

The secret to happiness is having low expectations.

Wall Street makes its money on activity. You make your money on inactivity.

One observer commenting on security analysts over forty stated: "They know too many things that are no longer true." As long as I am "on stage", publishing a regular record and assuming responsibility for management of what amounts to virtually 100% of the net worth of many partners, I will never be able to put sustained effort into any non-BPL activity. If I am going to participate publicly. I can't help being competitive. I know I don't want to be totally occupied with out-pacing an investment rabbit all my life. The only way to slow down is to stop.

In the search [of a deal], we adopt the same attitude one might find appropriate in looking for a spouse: It pays to be active, interested, and open-minded, but it does not pay to be in a hurry.