The hardest thing over the years has been having the courage to go against the dominant wisdom of the time, to have a view that is at variance with the present consensus and bet that view.

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

When your views are truly contrarian, they are inevitably uncomfortable. Courage and the ability to withstand pain are required.

Time and 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 [bonds], you can almost close your eyes and [buy] stocks.

In the 1950s and 1960s, the heroes were the long-term investors; today the heroes are the wise guys.

The hardest thing over the years has been having the courage to go against the dominant wisdom of the time, to have a view that is at variance with the present consensus and bet that view.

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