We try to exert a Ted Williams kind of discipline. In his book The Science of Hitting, Ted explains that he carved the strike zone into 77 cells, each the size of a baseball. Swinging only at balls in his "best" cell, he knew, would allow him to bat .400; reaching for balls in his "worst" spot, the low outside corner of the strike zone, would reduce him to .230. In other words, waiting for the fat pitch would mean a trip to the Hall of Fame; swinging indiscriminately would mean a ticket to the minors.

I’ve never believed in risking what my family and friends have and need in order to pursue what they don’t have and don’t need.

Don't risk what is important to you, to get what is not important to you.

When asked how he became so successful in investing, Buffett answered: 'we read hundreds and hundreds of annual reports every year.

We make investment decisions based on our evaluation of the most profitable combination of probabilities.

It's easy to identify many investment managers with great recent records. But past results, though important, do not suffice when prospective performance is being judged. How the record has been achieved is crucial.

I have a wonderful family. I have a job that I love and wonderful people who help me with it. It can't get any better than that.