I was the son of an immigrant. I experienced bigotry, intolerance and prejudice, even as so many of you have. Instead of allowing these thing to embitter me, I took them as spurs to more strenuous effort. .

The greatest blessing of our democracy is freedom. But in the last analysis, our only freedom is the freedom to discipline ourselves.

Colleges don't teach economics properly. Unfortunately we learn little from the experience of the past. An economist must know, besides his subject, ethics, logic, philosophy, the humanities and sociology, in fact everything that is part of how we live and react to one another.

It is far more difficult... to know when to sell a stock than when to buy.

When the outlook is steeped in pessimism, I remind myself, "Two and two still make four, and you can't keep humankind down for long."

Age is only a number, a cipher for the records. A man can't retire his experience. He must use it. Experience achieves more with less energy and time.

Learn to take losses quickly and cleanly. There is something about inside information which seems to paralyze a man's reasoning powers. Beware of barbers, beauticians, waiters - or anyone - bringing gifts of 'inside' information or tips. Don't try to be a jack of all investment. Stick to the field you know best.