Having first rate people on the team is more important than designing hierarchies and clarifying who reports to whom.

It's better to hang out with people better than you. Pick out associates whose behavior is better than yours and you'll drift in that direction.

As far as you are concerned, the stock market does not exist. Ignore it.

If you can eliminate the government as a 39.6% partner, then you will be much better off.

Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years.

This country is going - be living better ten years from now than it is now. It will be living better in 20 years from now than ten years from now. The ingredients that made this country, you know, the miracle of the world - I mean we had a seven for one improvement in the average American standard of living in the 20th century.

I mean, if Pearl Harbor came along, you could have said the planning was wrong by the military ahead of time or maybe the battleships shouldn't have all been in the harbor and all that kind of thing.