Household spending growth has been particularly solid in 2015, with purchases of new motor vehicles especially strong. Job growth has bolstered household income, and lower energy prices have left consumers with more to spend on other goods and services.

If there is a job that you feel passionate about, do what you can to pursue that job; if there is a purpose about which you are passionate, dedicate yourself to that purpose.

Some degree of inequality in income and wealth, of course, would occur even with completely equal opportunity because variations in effort, skill, and luck will produce variations in outcomes.

Sometimes you have to make decisions without knowing all that you would like to know That's part of the job.

Writing is not the easiest way to make a living. Your work long hours, usually all by yourself. It is not a way to make money.

Now I don't work for the money or the glory. I just work because I like building businesses.

The objective of the customer is not being met if the fund managers are diversifying their assets into hundreds of businesses. If they do this, they are typically performing close to the indexes. But that's not the way wealth is created.

In China, people are moving from bigger cars to small hatches, and interestingly, the Indian market is graduating to bigger cars and sedans. I will say that we will not put money only in just one segment.