Never ask anyone for their opinion, forecast, or recommendation. Just ask them what they have—or don’t have—in their portfolio.

We should ban banks from risk-taking because society is going to pay the price.

Never, never, never think - that's one lesson you should have in life. Never think that lack of variability is stability.

Read books are far less valuable than unread ones. The library should contain as much of what you do not know as your financial means, mortgage rates, and the currently tight real-estate market alow you to put there.

Never think that lack of variability is stability. Don't confuse lack of volatility with stability, ever.

Never trust a journalist unless she's your mother.

Prediction, not narration, is the real test of our understanding of the world.