Is management rational?

If you do smart things and use leverage and do one wrong thing along the way, it could wipe you out, because anything times zero is zero. But it's reinforcing when the people around you are doing it successfully, you're doing it successfully, and it's a lot like Cinderella at the ball.

Trust is like the air we breathe--when it's present, nobody really notices; when it's absent, everybody notices.

Do not put all your eggs in one basket.

Of one thing be certain: if a CEO is enthused about a particularly foolish acquisition, both his internal staff and his outside advisors will come up with whatever projections are needed to justify his stance. Only in fairy tales are emperors told that they are naked.

Investing is laying out money now to get more money back in the future.

Be fearful when there is greed and be greedy when there is fear.