Acknowledging what you don't know is the dawning of wisdom.

There must be some wisdom in the folk saying: Its the strong swimmers who drown.

All sensible investing is value investing

'Crowd folly', the tendency of humans, under some circumstances, to resemble lemmings, explains much foolish thinking of brilliant men and much foolish behavior - like investment management practices of many foundations represented here today. It is sad that today each institutional investor apparently fears most of all that its investment practices will be different from practices of the rest of the crowd.

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.

Everybody engaged in complex work needs colleagues. Just the discipline of having to put your thoughts in order with somebody else is a very useful thing.”

If you don't allow for self-serving bias in the conduct of others, you are, again, a fool.