The most sensible skill that I can give to somebody born in 2003 is a perfect command of Mandarin.

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.

Commodities tend to zig when the equity markets zag.

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.

The biggest public fallacy is that the market is always right. The market is nearly always wrong. I can assure you of that.

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

Teach your children or your grandchildren Chinese. It is going to be the most important language of their lifetimes.