There is scarcely a manufacturer in the world who has not in his works some machinery that should be thrown out and replaced by improved appliances; or who does not for the want of additional machinery or new methods lose more than sufficient to pay the largest dividend obtainable by investment beyond his own domain.

And yet most business men whom I have known invest in bank shares and in far-away enterprises, while the true gold mine lies right in their own factories.
I have tried always to hold fast to this important fact.

It has been with me a cardinal doctrine that I could manage my own capital better than any other person, much better than any board of directors.

The losses men encounter during a business life which seriously embarrass them are rarely in their own business, but in enterprises of which the investor is not master.

My advice to young men would be not only to concentrate their whole time and attention on the one business in life in which they engage, but to put every dollar of their capital into it.