The only way to be loved is to be loveable, which really irritates me.

Too often, executive compensation in the U.S. is ridiculously out of line with performance. That won't change, moreover, because the deck is stacked against investors when it comes to the CEO's pay. The upshot is that a mediocre-or-worse CEO - aided by his handpicked VP of human relations and a consultant from the ever-accommodating firm of Ratchet, Ratchet and Bingo - all too often receives gobs of money from an ill-designed compensation arrangement.

I am a better investor because I am a businessman, and a better businessman because I am no investor.

Investing is the greatest business in the world because you never have to swing. You stand at the plate; the pitcher throws you General Motors at 47! U.S. Steel at 39! And nobody calls a strike on you. There's no penalty except opportunity. All day you wait for the pitch you like; then, when the fielders are asleep, you step up and hit it.

If you're in a card game and you can't figure out who the patsy is, you're it.

When you're associating with the people that you love, doing what you love, it doesn't get any better than that.

I mean, you may be very mad at some guy that walked away with a huge golden parachute, but that really isn't the important thing.