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.

The railroads needed standardized time; as a result, the technology of train travel shaped the way everyone gets up, eats, goes to sleep, calculates age, and, perhaps of no small importance, imagine the world as a whole, ticking reliably, with reliable deviations, according to the beat of one central clock in a physical location.

I was going to go to a midnight screening of 'Pee-wee's Big Adventure' in college, and it's the sort of thing where people dress up. So I got dressed up, and then I got lost. I was speeding, and a cop pulled me over while I was wearing a Pee-wee suit. That's a hard ticket to get out of.

I have no plans to have any other home than Moscow. However, I love to travel, and I'm very comfortable in New York. In many ways, it reminds me of Moscow in its energy and drive.

You have to have a little humility if you're Danish because you're never going to be able to travel outside the country unless you can speak another language.