Active management strategies demand uninstitutional behavior from institutions, creating a paradox that few can unravel. Establishing and maintaining an unconventional investment profile requires acceptance of uncomfortably idiosyncratic portfolios, which frequently appear downright imprudent in the eyes of conventional wisdom.

That which works is authentic. It's a practical truth. What really matters is that we find benefit, regardless of whether it's an ancient traditional approach or some new version, popular or obscure.

Don't let what other people say disturb your mind. Be happy.

I think nobody is in a position to react to these big macro-issues. Where is the dollar going to be or what is G.D.P. growth going to be in China? For every smart person on one side of the question, there is another smart person on the other side.

I've always viewed high-frequency trading as a tax on the rest of us.

The true depth of understanding and maturity as a practitioner is how we apply what we've learned to our lives.

A yogi is one who leaves a place a little nicer than when they arrived.