It would be wonderful if we could avoid the setbacks with timely exits, but nobody has figured out how to predict them.

The simpler it is, the better I like it.

Never invest in a company without understanding its finances. The biggest losses in stocks come from companies with poor balance sheets.

You only need a few good stocks in your lifetime. I mean how many times do you need a stock to go up ten-fold to make a lot of money? Not a lot.

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.

I deal in facts, not forecasting the future. That's crystal ball stuff. That doesn't work.

Long shots almost always miss the mark.