When things go wrong on a macroeconomic level, it's almost always this way. People find someone to blame, whether it's blacks, whites, Christians, Jews, Muslims-whoever.

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

There is no such thing as a paper loss. A paper loss is a very real loss.

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.

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

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 do nothing in the meantime.

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