Banking is very good business if you don't do anything dumb.

Do what you would do for free, having passion for what you do is the most important thing.

If you can eliminate the government as a 39.6% partner, then you will be much better off.

Inactivity strikes us as intelligent behavior.

Charlie and I have a number of filters that things have to get through before we'll think about them.

It's got to be the best intellectual exercise out there. You're seeing through new situations every ten minutes. In the stock market you don't base your decisions on what the market is doing, but on what you think is rational. Bridge is about weighing gain/loss ratios. You're doing calculations all the time.

You should invest in a business that even a fool can run, because someday a fool will.