Never be afraid to ask for too much when selling or offer too little when buying.

I learned to go into business only with people whom I like, trust, and admire.

I mean there is no capital requirements to it or anything of the sort. And basically, I said there were possibly financial weapons of mass destruction, and they had them. They destroyed AIG. They certainly contributed to the destruction of Bear Sterns and Lehman. Although Lehman had other problems, too.

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

We would do best in a market where everyone acted foolishly.

You've got the right - you've got a wonderful person with Sheila Bair, most of the viewers have never heard of Sheila Bair. [She] has taken eight percent of the deposits in the United States and seamlessly moved those over to sound institutions which in turn have gotten more capital, ended up, it's been a magnificent job.She'll never get a golden parachute or any severance pay or anything. She's done a great job. We've got some great public servants. We have I think the right people in there to get the job done, and then they need more tools.

Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.