Brokerage firms don't sell customers stock so much as they sell those horrible mutual funds

Part of my attraction to ancient art is that there is an element of risk, of speculation.

I was happier when pursuing success than I was when savoring its fruits; the attraction, perhaps the addiction, was in the process, as much as in its end.

Brokerage firms don't sell customers stock so much as they sell those horrible mutual funds

If you see a wonderful archaic Greek marble object in a museum, it's not only that it's beautiful, but what comes to your mind is the fact that it's 2,600 or so years old, and it was done by a human being at that time who you have such a limited ability to grasp - and yet you have this enormous ability to grasp.

You have to be intellectually honest with yourself and others. In my judgment, all great investors are seekers of truth.

Just as outright euphoria is often a sign of a market top, fear is for sure a sign of a market bottom. Time and time again, in every market cycle I have witnessed, the extremes of emotion always appear, even among experienced investors. When the world wants to buy only treasury bills, you can almost close your eys and get long stocks.