I choose to work with every single person that I work with. That ends up being the most important factor. I don't interact with people I don't like or admire. That's the key. It's like marrying.

Be fearful when the markets get greedy, be greedy when the markets get fearful.

Take the probability of loss times the amount of possible loss from the probability of gain times the amount of possible gain. That is what we're trying to do. It's imperfect, but that's what it's all about.

We're perfectly willing to trade away a big payoff for a certain payoff.

I don't look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.

Would your reply possibly be this? Well, it all depends on what my tax rate will be on the gain you're saying we're going to make. If the taxes are too high, I would rather leave the money in my savings account, earning a quarter of 1 percent. Only in Grover Norquist's imagination does such a response exist.

This economy doesn't work well without the lubrication of credit and trust.