The markets are always changing, and the successful trader needs to adapt to these changes.

A good trader has to have three things: a chronic inability to accept things at face value, to feel continuously unsettled, and to have humility.

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.

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

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

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

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.