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Too many people overvalue what they are not and undervalue what they are.

The more evident it is that a certain company is going to become the market leader in a big market space, then the higher the valuation goes because the risk has been dramatically reduced.

You can do too much and oversell your market.

Simply put, investors should own less equities, more bonds, more global investments, more cash and more dry ammunition.

Too many companies are just being big for the sheer sake of it. Too many CEOs thinking bigger is better.

I think most CEOs think their stock is undervalued, probably.

I think good private equity investors create a lot more economic value than they destroy.

The party line is that stocks historically have outperformed all other investment plans.

I think it's a mistake to rely too much on any one economic factor. It's why investors try to spread their portfolio round.

Great investors need to have the right combination of intuition, business sense and investment talent.