Most successful investors, in fact, do nothing most of the time.

I don't think there is a sound UK bank now, at least, if there is one I don't know about it. The City of London is finished, the financial centre of the world is moving east. All the money is in Asia. Why would it go back to the West? You don't need London.

The Federal Reserve was not founded to bail out Bear Stearns or a few hedge funds. It was founded to keep a stable currency and maintain its value.

The first loss is the best loss.

Right now I own shares of companies in 28 countries.

The last leg of a bull market always ends in hysteria; the last leg of a bear market always ends in panic.

Get inside information from the president and you will probably lose half of your money. If you get it from the chairman of the board, you will lose all of it.