Beware of all politicians everywhere. They excelled at recess when they were in school but have excelled at little since.

I don't think there is a sound UK bank now, at least, if there is one I don't know about it. The City of London is finished, the financial centre of the world is moving east. All the money is in Asia. Why would it go back to the West? You don't need London.

Many investors seem to have forgotten a hard reality: There are frequent periods when stock markets don't do much.

You will never get anywhere if you do not do your homework.

Bottoms in the investment world don't end with four-year lows; they end with 10- or 15-year lows.

If everyone thinks one way, it is likely to be wrong. If you can figure out that it is wrong, you are likely to make a lot of money.

I learned very early in my investing careers: I better not invest in what I want. I better invest in what's happening in the world. Otherwise I'll be broke - dead broke.