You should not buy a stock because it's cheap but because you know a lot about it.

If you spend more than 13 minutes analyzing economic and market forecasts, you've wasted 10 minutes

My method for picking stocks has never changed. When businesses go from crappy to semicrappy, there's money to be made.

When you start to confuse Freddie Mac, Sallie Mae and Fannie Mae with members of your family, and you remember 2,000 stock symbols but forget the children's birthdays, there's a good chance you've become too wrapped up in your work.

Everyone has the brain power to make money in stocks. Not everyone has the stomach.

A lot of people got in at the wrong time. A lot of people did very well and some people said, "This is it. I'll never get back in again." And they maybe meant it, but they probably got back in again anyway.

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.