We have learned to turn out lots of goods and services, but we haven't learned as well how to have everybody share in the bounty. The obligation of a society as prosperous as ours is to figure out how nobody gets left too far behind.

I can do anything I want, basically, as long as it doesn't involve athletic ability, or something like that.

Trust is like the air we breathe--when it's present, nobody really notices; when it's absent, everybody notices.

All day you wait for the pitch you like; then when the fielders are asleep, you step up and hit it.

You will be right, over the course of many transactions, if your hypotheses are correct, your facts are correct, and your reasoning is correct. True conservatism is only possible through knowledge and reason.

If we start deciding, based on guesses or emotions, whether we will or won't participate in a business where we should have some long run edge, we're in trouble.

Many stock options in the corporate world have worked in exactly that fashion: they have gained in value simply because management retained earnings, not because it did well with the capital in its hands.