You find peace by coming to terms with what you don't know.

The government-sponsored institution Fannie Mae, when I look at its risks, seems to be sitting on a barrel of dynamite, vulnerable to the slightest hiccup. But not to worry: their large staff of scientists deemed these events "unlikely."

The number of managers with great track records in a given market depends far more on the number of people who started in the investment business (in place of going to dental school), rather than on their ability to produce profits.

When an investor focuses on short-term investments, he or she is observing the variability of the portfolio, not the returns - in short, being fooled by randomness.

If you don't feel that you haven't read enough, you haven't read enough.

Alan Greenspan is unskilled; you don't take the unskilled seriously.

Hard work will get you a professorship or a BMW. You need both work and luck for a Booker, a Nobel or a private jet.