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.

I think one of the things about Donald Trump that's interesting is he lives in a rarified atmosphere where it's possible that he doesn't get enough feedback, enough people rolling their eyes at him. It's a danger more in show business than it is with wealth.

When a person earns money, it makes sense if he spends it himself. It's a shame when a person earns money, and some strange funds spend it.

Sometimes a psychic tells you something and it feels wrong and others may be right on the money. It's your choice about whom to trust, and giving that trust is something we do ourselves.

There was a lot of criticism in Boston that we weren't going to spend money on the Red Sox after we did the Liverpool transaction. Then there was the fear we wouldn't spend in Liverpool. Hopefully the fans of both clubs will eventually see what we see clearly - that there is nothing to fear from the existence of the other club.