Financial literacy is just as important in life as the other basics.
My father was a Tuskegee Airmen captain in the Air Force and a very strong personality. He believed in fairness and ethics and living up to the commitments you make to others. He ultimately became a judge, and he would talk to me over and over about how important it is to be fair.
My mom was the first African-American woman to graduate from the University of Chicago Law School, in 1946. She had leadership roles in the law, in government and the corporate world. She was a great role model in that she felt anything was possible.
Sports were a big part of my life. I was the captain of the basketball team in high school, and captain of the basketball team at Princeton.
Become that rare person where people know that your word is your bond and you're going to do exactly what you say you're going to do.
I really did believe that the most successful investments were the ones that you could own for the long run.
There's no statistical evidence that human beings have an ability to move in and out of the markets effectively. It's next to impossible.
I don't even have a computer in my office. If I had e-mail, I'd never take the time to read research or absorb information. I want to think about what I'm doing, and that takes time.
The most important thing is to stay the course - not to get shaken out of the market during a difficult time.
It is very different trying to help a community organization than trying to sell yourself or sell a product.
