The smartest side to take in a bidding war is the losing side.

There is no staff. I make all the investment decisions and I do all my own analysis.

It isn't given to man to be able to run a financial institution where different interest-rate scenarios will prevail on all of that so as to produce kind of smooth, regular earnings from a very large base to start with.

Derivatives are like sex. It's not who we're sleeping with, it's who they're sleeping with that's the problem.

My job is essentially just corralling more and more and more facts and information, and occasionally seeing whether that leads to some action.

The capital gains tax is 15 percent now. So I sit there in my office and I make a lot of money by capital gains, and I pay 15 percent, and I pay no payroll tax on it.

I never try to predict the market.