I like to be right. I try not to miss the big ideas, forget the little ones, and try to get them right. End of job description.

Volatility is a symptom that people have no idea of the underlying value-that they have stopped playing the asset game. They're not buying because it's a company with certain attributes. They're buying because the price is rising. People are playing games not related to any concept at all of what the long-term value of the enterprise is. And they know it.

Equities are boring; bonds are disgusting.

At least us old men remember what a real bear market is like, and the young men haven't got a clue.

There is no single theory that is used in economics that considers the finite nature of resources. It's shocking.

The individual is far better-positioned to wait patiently for the right pitch while paying no regard to what others are doing, which is almost impossible for professionals.

You can't run the economy on BMWs alone. If the average person is in a pickle, how do you have a healthy economy?