I own 2.2 million acres of land. More than anyone else in America. Land is the one asset they are not making more of.

Tax efficiency is not tax evasion. It is the difference between a good capital allocator and a mediocre one.

Warren Buffett called me the person he would most like to be if he were not himself. I keep that quote framed in my office.

Cable is just pipes. But whoever owns the pipes controls what flows through them. That is the entire thesis.

I bought Formula One for 4.4 billion dollars. Everyone said I overpaid. Revenue has doubled since. The crowd is usually wrong about sports media.

I do not care about reported earnings. I care about after-tax cash flow. Everything else is accounting fiction.