An investor who proposes to ignore near-term market fluctuations needs greater resources for safety and must not operate on so large a scale, if at all, with borrowed money.

He had one illusion - France; and one disillusion - mankind, including Frenchmen.

The expected never happens; it is the unexpected always.

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

There is no harm in being sometimes wrong - especially if one is promptly found out.

Capitalism is the extraordinary belief that the nastiest of men, for the nastiest of reasons, will somehow work for the benefit of us all.

Men will not always die quietly.