For all long-term investors, there is only one objective-maximum total real return after taxes.

A doctor today would never prescribe the treatments my grandfather used in the Confederate Army, but a minister says pretty much the same thing today that a minister would have said back then.

The government of India regulates nearly everything, so there's very little progress; whereas in Hong Kong the government keeps its hands off... and the standard of living has multiplied.

It's self-centered to think that human beings, as limited as we are, can describe divinity.

We may find the Divine to be 3,000 times what we think it is now. It's like asking the tulip there to explain you. The tulip is a beautiful creation, with millions of atoms cooperating with each other to produce great beauty, but ask that tulip to talk about you, and it can't do it. It doesn't have those perceptive abilities. Wouldn't it be conceited to suggest that I had the abilities to describe the deity?

Happiness pursued eludes, happiness given returns.

Invest at the point of maximum pessimism.