Never depend on a single source of income.

If you don't make mistakes you can't make decisions.

One’s objective should be to get it right, get it quick, get it out and get it over. Your problem won’t improve with age.

[People] have seen the credit market seize up. They're worried about money market funds, although the latest proposition from government should take care of that. They've seen eight percent of the bank deposits in the United States get moved very skillfully, I might say, within the last couple of weeks from institutions that they thought were fine a few months ago to other institutions. They are not wrong to be worried.

I mean, if Pearl Harbor came along, you could have said the planning was wrong by the military ahead of time or maybe the battleships shouldn't have all been in the harbor and all that kind of thing.

Managers and investors alike must understand that accounting numbers are the beginning, not the end, of business valuation.

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.