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I.B.M. was my college education, effectively. They were very good at teaching you management.

I got more out of the farm than Harvard Business School.

I learned about M&A and how to value assets and work with investment bankers.

I thought I was kind of a hotshot because I had had two years of work experience at Morgan Stanley, and I was about to get my Stanford M.B.A.

You go to any MBA program, and you will be taught the theory of the firm, that the purpose of the firm is the maximization of return on invested capital. I always thought this was a kind of lunacy.

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.

I was an economics major, which I enjoyed because I had a good business sense.

I am personally interested in more than just business schools. However, life has been good to me, and it's been good to me through a business career. I think the chance to help strengthen the foundation of young people going into business, as I did, just appeals to me.