It's amazing how difficult it is for a man to understand something if he's paid a small fortune not to understand it.

So the misplaced assumption is that we have this whole new institutional element where these [financial] institutions are looking after their own financial interests before the financial interests of the principals, princi-pals whose interests they are really bound to observe first.

Your success in investing will depend in part on your character and guts, and in part on your ability to realize at the height of ebullience and the depth of despair alike that this too shall pass.

I believe - deeply and profoundly - that speculation is a loser's game.

Managed funds are astonishingly tax-inefficient.

The mutual fund industry has been built, in a sense, on witchcraft.

Thomas Aquinas defined the human soul as the core of our being, and the power that brings our characteristics into unity so the soul of capitalism - in its own temporal world as contrasted to the spiritual world of human beings - is what defines the core of the system and the factors that unify to produce the wonderful world that we are blessed to live in.