The total amount paid out in dividends is roughly equal to the amount lost in trading and investment advice, so net dividends to shareholders are zero. This is a very peculiar way to run a republic.

I believe in the discipline of mastering the best that other people have ever figured out. I don't believe in just sitting down and trying to dream it all up yourself. Nobody's that smart.

It's simplicity itself that its future will be way worse than its past.

Investing is where you find a few great companies and then sit on your ass.

Avoid working directly under somebody you don't admire and don't want to be like.

It's stupid the way people extrapolate the past -- and not slightly stupid, but massively stupid.

A Lesson on Elementary, Worldly Wisdom As It Relates To Investment Management & Business