If you don't find a way to make money while you sleep, you will work until you die.

Although we deal with probabilities and expectations, the actual results can deviate substantially from such expectations, particularly on a short-term basis.

Someone is sitting in the shade today because someone planted a tree a long time ago.

We have provided capital here with a couple of institutions recently. The Federal government did that in the '30s for the RFC and I think there could well be a proper role for government in that.

If you hit a hole in one every hole, you wouldn’t play golf for very long.

As far as you are concerned, the stock market does not exist. Ignore it.

Having a large amount of leverage is like driving a car with a dagger on the steering wheel pointed at your heart. If you do that, you will be a better driver. There will be fewer accidents but when they happen, they will be fatal.