Most of my thoughts, you couldn't print.

Beware of all politicians everywhere. They excelled at recess when they were in school but have excelled at little since.

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

They wouldn't be politicians if they knew what they were doing.

Many investors seem to have forgotten a hard reality: There are frequent periods when stock markets don't do much.

Index investing outperforms active management year after year.

It's a lot of fun finding a country that nobody knows about. The only thing better is finding a country everybody's bullish on and shorting it.