Chess is a cure for headaches.

Education: the inculcation of the incomprehensible into the indifferent by the incompetent.

We will not have any more crashes in our time.

Successful investing is anticipating the anticipations of others.

Most, probably, of our decisions to do something positive, the full consequences of which will be drawn out over many days to come, can only be taken as the result of animal spirits-a spontaneous urge to action rather than inaction, and not as the outcome of a weighted average of quantitative benefits multiplied by quantitative probabilities.

Perhaps it is historically true that no order of society ever perishes save by its own hand.

It is a mistake to think that one limits one’s risk by spreading too much between enterprises about which one knows little and has no reason for special confidence.