“The big highlight, of course, were the reforms by the Tokyo Stock Exchange. If you run a company and your price to book is below one, we're going to shame you. It did yield very positive results.”

“Return chasing is a gradual thing … you get more and more overweight equities as returns improve, then unload as they worsen.”

“Birth to death ratio ... florida is now below one ... utah over two to one ... austin two times more births and deaths in tampa”

“If you can break the process into sub-processes, diagram them, study them, improvement, improve them. It's much easier to change a hundred things by one percent than to change one thing by a hundred percent.”

“Once this rule gets implemented, then it will become automatically in effect, and then you have to have a license application filed on the same day”