It's better to hang out with people better than you. Pick out associates whose behavior is better than yours and you'll drift in that direction.

You can be sure that over the next 10 years, you'll see something that you did not think was possible.

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.

Knowing the edge of your competency is important. If you think you know more than you do, you will get in trouble.

Forecasts may tell you a great deal about the forecaster; they tell you nothing about the future.

When you combine ignorance and leverage, you get some pretty interesting results.

I mean there is no capital requirements to it or anything of the sort. And basically, I said there were possibly financial weapons of mass destruction, and they had them. They destroyed AIG. They certainly contributed to the destruction of Bear Sterns and Lehman. Although Lehman had other problems, too.