You don't need to have extraordinary effort to achieve extraordinary results. You just need to do the ordinary, everyday things exceptionally well.

Risk can be greatly reduced by concentrating on only a few holdings.

There seems to be some perverse human characteristic that likes to make easy things difficult.

We set no volume goals in our insurance business generally-and certainly not in reinsurance-as virtually any volume can be achieved if profitability standards are ignored.

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.

Invest in as much of yourself as you can, you are your own biggest asset by far.

Paradoxically, when 'dumb' money acknowledges its limitations, it ceases to be dumb.