The ethos of not fooling yourself is one of the best you could possibly have. It's powerful because it's so rare.

Being short and seeing a promoter take the stock up is very irritating. It's not worth it to have that much irritation in your life.

A lot of opportunities in life tend to last a short while, due to some temporary inefficiency... For each of us, really good investment opportunities aren't going to come along too often and won't last too long, so you've got to be ready to act and have a prepared mind.

Just as a man working with his tools should know its limitations, a man working with his cognitive apparatus must know its limitations.

For society, the Internet is wonderful, but for capitalists, it will be a net negative. It will increase efficiency, but lots of things increase efficiency without increasing profits. It is way more likely to make American businesses less profitable than more profitable. This is perfectly obvious, but very little understood.

If (investing) weren't a little difficult, everybody would be rich.

Most people are too fretful, they worry to much. Success means being very patient, but aggressive when it's time.