I've seen more people fail because of liquor and leverage -- leverage being borrowed money. You really don't need leverage in this world much. If you're smart, you're going to make a lot of money without borrowing.

When people talk about cash being king, it's not king if it just sits there and never does anything.

Investment decision should be made on the basis of the most probable compounding of after-tax net worth with minimum risk.

You have to be able to communicate in life and probably schools underemphasize that. If you can't talk to people or write, you're giving up your potential.

Anyone who believes a growth rate in excess of 15% per annum over the long term is attainable should pursue a career in sales, but avoid one in mathematics.

In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497.

If AIG had tried to unwind their derivatives books. I don't know. It would have hit every institution in the world.