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.

Following what everyone else is doing is rarely a way to get rich.

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

The price of a commodity will never go to zero. When you invest in commodities futures, you're not buying a piece of paper that says you own an intangible piece of company that can go bankrupt.

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 cannot invest the way I want the world to be; I have to invest the way the world is.

I haven't met a rich technician