To be successful, you should concentrate on the world of companies, not arcane accounting mathematics.

In my view, [the trade deficit] will create political turmoil at some point...Pretty soon, I think there will be a big adjustment.

Failure comes from ego, greed, envy, fear, imitation. I have success not because I am smart, but because I am rational.

The stock market is a wonderfully efficient mechanism for transferring wealth from the impatient to the patient.

When I take a look at a company's annual report, if I don't understand it, they don't want me to understand it.

Don't settle for anything other than your passion - if you're lucky enough to find it.

In the insurance business, there is no statute of limitation on stupidity.