The basic skills of math, English and writing are not enough, ... You must develop a basic system of values to form and guide the use of these skills. The true test will not be what you learned in college, but how you used what you learned.

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

I was poor once, I didn't like it, I don't want to be poor again.

One of the best rules anybody can learn about investing is to do nothing, absolutely nothing, unless there is something to do... I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up... I wait for a situation that is like the proverbial "shooting fish in a barrel."

Without giving specific names, most of the significant American banks, the larger banks, are bankrupt, totally bankrupt.

Diversification is something that stock brokers came up with to protect themselves, so they wouldn't get sued for making bad investment choices for clients. Henry Ford never diversified, Bill Gates didn't diversify. The way to get rich is to put your eggs in one basket, but watch that basket very carefully. And make sure you have the right basket.

You will never get anywhere if you do not do your homework.