It's the deleveraging that's going on right now that has caused the credit crisis.

If you do smart things and use leverage and do one wrong thing along the way, it could wipe you out, because anything times zero is zero. But it's reinforcing when the people around you are doing it successfully, you're doing it successfully, and it's a lot like Cinderella at the ball.

You're dealing with a lot of silly people in the marketplace; it's like a great big casino and everyone else is boozing. If you can stick with Pepsi, you should be OK.

It is easier to rationalize than it is to be rational.

It is more important to say "no" to an opportunity, than to say "yes".

I mean, you know, you're not going to change the human animal. And the human animal really doesn't get a lot smarter.

When forced to choose, I will not trade even a night's sleep for the chance of extra profits.