Florida

"“Some people are innovators and some people borrow ideas from others. Stiritz is both (and that’s meant as a compliment).”8 He consciously carved out blocks of time in his schedule to wrestle with the key issues in the business alone, without distraction, whether on a Florida beach or in his home office in St. Louis."

"Most people need to work to support themselves or their families; Heatley did not. He and Katherine could afford to do whatever they wanted and to go anywhere in the world. They decided to get out of Auckland and travel for two years with a teacher for the children and an open mind about where they might settle. If somewhere appealed to them, they would stay. If not, they would come home. They started in Whistler, Canada, then travelled through the US, at one stage renting a house in Florida next door to Mar-a-Lago, which would later become famous as US President Donald Trump’s private club."

"“I just can’t do it,” I said as we finished our coffees. “It would not be fair on Diana. If I work for you, you will want me morning, noon and night. It would not be fair.” “Why don’t you ask her?” said Sol. “I understand your fears. But it will be different this time. Just ask her.” I went back to the London apartment and called my wife in Florida. “Guess who I just had lunch with?” I tried to sound upbeat and casual. “Sol Kerzner.” Diana did not hesitate. “How did you know?” I was completely taken aback. “I just felt it. He wants you to work for him again, doesn’t he? Well, before you say no, I want you to hear this. I have spoken about it often with the children. When you worked for Sol, the children and I had the most exciting and interesting lives. Yes, there were hardships, but we all agree that, if you ever get the chance to work for him again, you should jump at it. We will all support you.”"

"The Laurel-in-the-Pines deal, Larry Tisch’s first big deal, encom- passed two themes that would characterize practically all of his invest- ment decisions. First, he showed an unshakable confidence in his own instincts and a willingness to defy conventional wisdom that didn’t make sense. Second, he showed his inclination to avoid overpriced investments—such as Florida hotels—and their accompanying higher downside risk. The family resisted the temptation to be swept up in the speculative fever in Florida. Instead, they went into a far more conservative deal—one that left plenty of room for error—on terms that gave them a few years to make a go of it before committing to an outright purchase."