Knowing what you don't know is more useful than being brilliant.

If you have competence, you pretty much know its boundaries already. To ask the question (of whether you are past the boundary) is to answer it.

You're looking for a mispriced gamble. That's what investing is. And you have to know enough to know whether the gamble is mispriced. That's value investing.

There is the sheer amount of Franklin's wisdom. And the talent. Franklin played four instruments. He was the nation's leading scientist and inventor, plus a leading author, statesman, and philanthropist. There has never been anyone like him.

I never allow myself to have an opinion on anything that I don't know the other side's argument better than they do.

Mimicking the herd invites regression to the mean.

Why should it be easy to do something that, if done well, two or three times, will make your family rich for life?