We've all heard stories of lottery winners, rock stars, heirs and heiresses, and professional athletes becoming millionaire morons who wake up rich but are broke by nightfall.

As a bull market turns into a bear market, the new pros turn into optimists, hoping and praying the bear market will become a bull and save them. But as the market remains bearish, the optimists become pessimists, quit the profession, and return to their day jobs. This is when the real professional investors re-enter the market.

The rich continue to get rich the same way they always have - by understanding how money works and making their money work for them.

I want parents to teach that academic intelligence is essential, but so is financial intelligence.

I don't want to get into the 'who's a hostage-taker' discussion here, but what is the estate tax? It's a double tax on death. Economists will tell you that it's really not a tax that soaks the rich, but it's a tax on capital that deprives business investment and therefore job creation.

When I was the finance minister, I got on well with the RBI Governor.

I'm never happier than when I'm not working. The strip is a job - that's why I take money for it. It's a job I'm passionate about, but it's a job I totally leave in the studio when I walk out of here, unless I'm late and I have to work at home. I never think of the strip unless I'm compelled to.

What's hurting the U.S. economy is total government spending. The deficit is an indicator that the government is spending so much money that it can't even get around to stealing all of the money that it wants to spend. But the tip of the iceberg is not what hit the Titanic - it was the 90 percent of the iceberg under water.