When forced to choose, I will not trade even a night's sleep for the chance of extra profits.

I really like my life. I've arranged my life so that I can do what I want.

Like most trends, at the beginning it's driven by fundamentals, at some point speculation takes over. What the wise man does in the beginning, the fool does in the end.

Do not take yearly results too seriously. Instead, focus on four or five-year averages.

We've got a wonderful economic formula in this country.

At this point, when treasury bills, seven day treasury bills at 1/20th of one percent, it's not because people want to earn 1/20th of one percent, it's because they trust the fact the treasury will give it back to them next week.

The managers at fault periodically report on the lesson they have learned from the latest disappointment. They then usually seek out future lessons.