In this business if you're good, you're right six times out of ten. You're never going to be right nine times out of ten.

People who want to know how stocks fared on any given day ask, "Where did the Dow close?" I'm more interested in how many stocks went up versus how many went down. These so-called advance/decline numbers paint a more realistic picture.

That's not to say there's no such thing as an overvalued market, but there's no point worrying about it.

My high-tech aversion caused me to make fun of the typical biotech enterprise: $100 million in cash from selling shares, one hundred Ph.D.'s, 99 microscopes, and zero revenues.

You have to let the big ones make up for your mistakes.

I don't go near the money and the money doesn't go near me.

The natural-born investor is a myth.