I think what people understand there probably - well, they were hoping the private sector would do it [rescuing AIG ].

I don't read economic forecasts. I don't read the funny papers.

The rich are always going to say that, you know, just give us more money and we'll go out and spend more and then it will all trickle down to the rest of you. But that has not worked the last 10 years, and I hope the American public is catching on.

Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble.

An irresistable footnote: in 1971, pension fund managers invested a record 122% of net funds available in equities - at full prices they couldn't buy enough of them. In 1974, after the bottom had fallen out, they committed a then record low of 21% to stocks.

The most important thing in terms of your circle of competence is not how large the area of it is, but how well you've defined the perimeter.

The plan itself is opportunism. There is no plan before that.