There are 309 million people out there that are trying to improve their lot in life. And we've got a system that allows them to do it.

I am a better investor because I am a businessman, and a better businessman because I am no investor.

The stockmarket is a semi-psychotic creature given to extremes of elation and despair.

If you look at the Forbes 400, they are paying a lower rate, accounting payroll taxes, than their secretary or - whomever around their office.

Part of making good decisions in business is recognizing the poor decisions you've made and why they were poor. I've made lots of mistakes. I'm going to make more. It's the name of the game. You don't want to expect perfection in yourself. You want to strive to do your best. It's too demanding to expect perfection in yourself.

Does the business have favourable long term prospects?

The ideal business is one that earns very high returns on capital and that keeps using lots of capital at those high returns. That becomes a compounding machine.