Investment based on genuine long-term expectations is so difficult today as to be scarcely practicable.

Government machinery has been described as a marvelous labor saving device which enables ten men to do the work of one.

Men will not always die quietly.

It is better to be roughly right than precisely wrong.

The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future.

Americans are apt to be unduly interested in discovering what average opinion believes average opinion to be.

There is nothing so disastrous as a rational investment policy in an irrational world.