When you locate a bargain, you must ask, 'Why me, God? Why am I the only one who could find this bargain?'

The big money is not in the buying and selling ... but in the waiting.

Even bright people are going to have limited, really valuable insights in a very competitive world when they're fighting against other very bright, hardworking people. And it makes sense to load up on the very few good insights you have instead of pretending to know everything about everything at all times.

The Internet bubble circa 2000 is the most extreme in modern capitalism. In the 1930s, we had the worst depression in 600 years. Today is almost as extreme in the opposite way.

I think there's something to be said for developing the disposition to own stocks without fretting.

Mankind invented a system to cope with the fact that we are so intrinsically lousy at manipulating numbers. It's called the graph.

An idea or a fact is not worth more merely because it's more available to you.