I was a little bit of a cocky kid.

I am always prepared to do the right thing regardless of what other people think.

As a result of overdiversification, their (active managers) returns get watered down. Diversification covers up ignorance. Active managers haven't done enough research into any of their companies. If managers have 200 positions, do you think they know what's going on at any one of those companies at this moment?

I'm not emotional about investments. Investing is something where you have to be purely rational and not let emotion affect your decision making - just the facts.

You can learn investing by reading books.

In order to be successful, you have to make sure that being rejected doesn’t bother you at all.

Investing is a business where you can look very silly for a long period of time before you are proven right.