A CEO's behavior has a huge impact on managers down the line.

Having a large amount of leverage is like driving a car with a dagger on the steering wheel pointed at your heart. If you do that, you will be a better driver. There will be fewer accidents but when they happen, they will be fatal.

I mean, you can explain the fact that these are depressed prices, you know. We think these assets are going to be worth a lot more. And I think that case can be made in certain situations. But I think to just say, you know, we're going to say a dollar of cash is worth $2 all of a sudden, it isn't worth $2. It's worth a dollar today.

I never try to predict the market.

You can't buy what is popular and do well.

You pay a very high price in the stock market for a cheery consensus.

If you’re in the luckiest one per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent.