Quote

I used to work as a proofreader at Merrill Lynch.

You can no longer buy commodities at Merrill Lynch. My guess is many analysts and even executives are too young to know how profitable a hot commodities market can be. They will soon.

I thought a company that provides mutual-fund information could be a great business, because you could construct an effective moat by building large financial databases and customer lists and a strong brand name.

When I left Merrill Lynch, one of the things that upset me the most wasn't losing my job. It was not being able to see those people the following day. It was almost like divorcing 40 people.

I'd never buy something, even if it's a great brand, that is a competitor to something I already own; that's insane.

I don't buy this thing that our industry is responsible for all the ills of the world. We have great people at JPMorgan Chase. We operate with a lot of rigor. Our clients are happy with us.

I think that a lot of companies are still amazingly price sensitive.

I'm really excited about anything that is able to address the really big markets, so anything that's universally appealing.

The very first stock I bought right out of college was Berkshire Hathaway.