At one point, I recognized that Warren Buffett, though he had every advantage in learning from Ben Graham, did not copy Ben Graham but, rather, set out on his own path and ran money his way, by his own rules... I also immediately internalized the idea that no school could teach someone how to be a great investor.

Innovation, especially in America, is continuing at a breakneck pace, even in areas facing substantial political or regulatory headwinds. The advances in health care in particular are breathtaking - so many selfless souls are working to advance science, and this is heartening.

I seek individual investments that will allow me to target total portfolio returns of at least 20% annually after fees and expenses on an annual basis over a period of years, not months.

I had begun to worry about the housing market back in 2003, when lenders first resurrected interest-only mortgages, loosening their credit standards to generate a greater volume of loans. Throughout 2004, I had watched as these mortgages were offered to more and more subprime borrowers - those with the weakest credit.

The responsibility of philanthropy rests with us. The wealthier we are, the more powerful we get. We cannot put the entire onus on the government.

We're in a world that celebrates things: success, beauty, money. And I reckon that's really about 4 per cent of the world. The rest of us are just getting on with it.

I always hustled to make money and pay for school. I was never afraid of hard work.

Nations that use commodity capitalism as a stepping-stone to a mixed economy based on commodity/intellectual capitalism will most likely become rich.