For 30 years I've been responsible for managing client money, and it's been a joy, but at some point I need to move on. Thirty years is enough.

What a company's been earning doesn't mean anything. What you have to look at is what people think it's going to earn. If you can see something in two years is going to be entirely different than the conventional wisdom, that's how you make money.

Good debt growth is when you borrow money, and it goes into the real economy. You do capital spending. You build businesses.

Money Quotes