Those who know don't tell and those who tell don't know.

What's fun is watching actors of that calibre bring them to life. It's incredible. Christian Bale spent a day with the character he plays and after my year of being with him I couldn't have generated the same view of him. They have a different way of looking at people, it's fascinating to watch.

Warren Buffett is fond of saying that any player unaware of the fool in the market probably is the fool in the market.

The sentimentality of baseball is very deeply rooted in the American baseball fan. It is the one sport that is transmitted from fathers to sons.

The world clings to its old mental picture of the stock market because it’s comforting; because it’s so hard to draw a picture of what has replaced it; and because the few people able to draw it for you have no interest in doing so.

The men on the trading floor may not have been to school, but they have Ph.D.’s in man’s ignorance.

Yet another hedge fund manager explained Icelandic banking to me this way: you have a dog, and I have a cat. We agree that each is worth a billion dollars. You sell me the dog for a billion, and I sell you the cat for a billion. Now we are no longer pet owners but Icelandic banks, with a billion dollars in new assets.