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The problem with our region is that there are areas with oil and too much money, and then there are places such as south Lebanon and the Palestinian territories where there is no work, and instead of developing industry, they become dependent on oil money - this results in extremism.
I made my money in Iscar. I spend my money on the industrial parks.
Industry is important, but everyone thinks money is important.
I need money to build parks. I will build more parks. That's all I'm interested in.
The oil areas have a big problem digesting the oil. There's too much money, and the people don't know what to do with it. I'm finding all the time that we have more industries and more success stories which are not involved with oil.
There is nothing wrong with making money, but it was just not in my family's habits to know how to do that. All we knew how to do was work, and we usually liked the work we did.
The desire for money may be an indication of greed, but I want to argue that greed is a much more subtle vice than simply the desire to be rich.
Now I don't work for the money or the glory. I just work because I like building businesses.
I can see my work as a job. I do it for money. I likely already look forward to the weekend on Thursdays. And I probably will need a hobby as a leveling mechanism. In a career, I'm definitely more engaged. But at the same time, there will be periods when I think, 'Is all that really hard work really worth my while?'
With my business, the way you make big money is you find a great management team and a good concept, and you stick to it, and you add to it over time. In philanthropy, there was more this idea that once an idea was formulated, you moved along.
Good debt growth is when you borrow money, and it goes into the real economy. You do capital spending. You build businesses.
For 30 years I've been responsible for managing client money, and it's been a joy, but at some point I need to move on. Thirty years is enough.
The first thing I heard when I got in the business - not from my mentor - was, 'Bulls make money, bears make money, and pigs get slaughtered.' I'm here to tell you I was a pig. And I strongly believe the only way to make long-term returns in our business that are superior is by being a pig.
Carried interest... you're making money on somebody else's capital. It's not on your own. If that's not income, I don't know what is.
If you're running a business for the long term, the last thing you should be doing is borrowing money to buy back stock.
I like to see how I can do it for less money.
I'm not interested in wasting money on a project.
I don't take anything for granted. In the beginning, my parents put a lot of money on the table so I could live my dream, without putting any pressure on us. We made our own way. But I've seen so many players come and go that I never, not for one minute, thought I could rack up millions on the tour.
Back in my day, we didn't think about money as much. We enjoyed playing the game. We loved baseball. I didn't think about anybody else but the Cardinals.
We have never heard of laundering in Macau; money laundering is unheard of. Mind you, my casino, every bit of money - someone says Stanley Ho, you issue me a check of so much money - we don't give that easy.
As a matter of fact, believe it or not guys, you can actually lose money in sports! I know that you'll find that shocking.
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