“We have found in a long life that one competitor is frequently enough to ruin a business.”

Move only when you have an advantage. It’s very basic. You have to understand the odds and have the discipline to bet only when the odds are in your favor.

I try to get rid of people who always confidently answer questions about which they don’t have any real knowledge.

The iron rule of nature is: you get what you reward for. If you want ants to come, you put sugar on the floor.

You’re not going to get very far in life based on what you already know. You’re going to advance in life by what you’re going to learn after you leave here.

The investment game always involves considering both quality and price, and the trick is to get more quality than you pay for in price. It’s just that simple.

Stock-picking is like gambling: those who win well, seldom bet, but when they do, they bet heavily.

In my whole life, I have known no wise people who didn’t read all the time – none … ZERO.

The average result has to be the average result. By definition, everybody can’t beat the market. As I always say, the iron rule of life is that only 20% of the people can be in the top fifth. That’s just the way it is.

To me, it’s obvious that the winner has to bet very selectively. It’s been obvious to me since very early in life. I don’t know why it’s not obvious to very many other people.

Never, ever, think about something else when you should be thinking about the power of incentives.

Common stock investors can make money by predicting the outcomes of practice evolution. You can’t derive this by fundamental analysis – you must think biologically.

When you locate a bargain, you must ask, ‘Why me, God? Why am I the only one who could find this bargain?’

All I want to know is where I’m going to die, so I’ll never go there.

Go to bed smarter than when you woke up.

Investing is where you find a few great companies and then sit on your ass.

Spend less than you make; always be saving something. Put it into a tax-deferred account. Over time, it will begin to amount to something. This is such a no-brainer.

I just make it my business to get along with people so I can have fun. It’s that simple.

I stayed in show business to pay for my animal business.

I was in tailoring business, I sold flowers on the street, I worked construction and many odd jobs.

Being good in business is the most fascinating kind of art. Making money is art and working is art and good business is the best art.

Anybody who says they don’t want to be seen on a show which has millions of people watching it at one time when they’re in the business of selling records is a bit silly.

When you look at movies, the lead girl is always gorgeous and thin. There is a stereotype that you need to look a certain way and when you get in the business you really feel the pressure.

Don’t be worried about the next man – make sure your business tight.

There’s no difference in dealing with the music business with the majors than any other competition. The music business is way more cutthroat than any other business.