The only thing that I know for sure is that the people who invest in the U.K., those investors, believe strongly that the ramifications of a hard Brexit are very bad, and they believe that a recession will take place in the U.K., and that would clearly be negative for banks of the U.K.

Do your own homework. I can't overstate the importance of this.

The one stock in my portfolio which I say hasn't worked yet but has the potential for a big home run is General Motors.

I've always felt there was something wrong with Wells Fargo's culture, for a very, very long time.

Financial innovation is an oxymoron. It's very rare that there is something that's actually financial innovation. It's a euphemism for hiding leverage.