Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.

I told all of our original investors that they would lose their money for sure.

Money is only a tool in business. It is just a part of the machinery. You might as well borrow 100,000 lathes as $100,000 if the trouble is inside your business. More lathes will not cure it; neither will more money. Only heavier doses of brains and thought and wise courage can cure. A business that misuses what it has will continue to misuse what it can get.

A business that makes nothing but money is a poor business.

The highest use of capital is not to make more money, but to make money do more for the betterment of life.

If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability.