One of the best rules anybody can learn about investing is to do nothing, absolutely nothing, unless there is something to do. Most people – not that I’m better than most people – always have to be playing; they always have to be doing something. They make a big play and say, “Boy, am I smart, I just tripled my money.” Then they rush out and have to do something else with that money. They can’t just sit there and wait for something new to develop

Teach your children or your grandchildren Chinese. It is going to be the most important language of their lifetimes.

Never act upon wishful thinking. Act without checking the facts, and chances are that you will be swept away along with the mob.

Bottoms in the investment world don't end with four-year lows; they end with 10- or 15-year lows.

You can no longer buy commodities at Merrill Lynch. My guess is many analysts and even executives are too young to know how profitable a hot commodities market can be. They will soon.

Debasing your currency sometimes works in the short term, it has never worked in the long term and does not even usually work in the medium term. Lots of politicians like to do it because it is an easy way.

Not one country in existence today has had the same borders and government for as long as two hundred years. The world will continue changing.