I'm always interested in understanding the math of things and understanding as much as I can about all aspects of business. And what I learn today may be useful to me two years from now. That's really the wonderful thing about investments is your knowledge is cumulative.

An IPO is like a negotiated transaction - the seller chooses when to come public - and it's unlikely to be a time that's favourable to you.

So smile when you read a headline that says "Investors lose as market falls." Edit it in your mind to "Disinvestors lose as market falls-but investors gain." Though writers often forget this truism, there is a buyer for every seller and what hurts one necessarily helps the other. (As they say in golf matches: "Every putt makes someone happy.")

Very successful people say no to almost everything.

My idea of a group decision is to look in the mirror.

This economy doesn't work well without the lubrication of credit and trust.

I'd rather have a $10 million business making 15 per cent than a $100 million business making 5 per cent.