I do not believe in inheriting your position in society based on which womb you come from... I think a rich person should leave his children enough so they can do anything, but not enough so they can do nothing.

Well, one time some attractive woman sat next to Charlie and asked him what he owed his success to, and, unfortunately, she insisted on a one word answer. He had a speech prepared that would have gone on for several hours. But when forced to boil it down to one word, he said that was "rational". You know, he comes equipped for rationality, and he applies it in business. He doesn't always apply it elsewhere, but he applies it in business and that has made him a huge business success.

You're dealing with a lot of silly people in the marketplace; it's like a great big casino and everyone else is boozing. If you can stick with Pepsi, you should be OK.

Investing is forgoing consumption now in order to have the ability to consume more at a later date.

I'm happy when I can spend every day doing the things that I like to do. That's my luxury.

Diversification is protection against ignorance. It makes little sense if you know what you are doing.

The first rule is not to lose. The second rule is not to forget the first rule.